The PNC Financial Services Group and the TCW Group have formalized and expanded their partnership to develop a private credit platform focused on middle market lending.The companies aim to have $2.5 billion in investor equity capital available in the platform’s first year, and expect investment activity to begin in the fall, they said in a Monday (May 6) press release.“We are thrilled to partner with PNC to expand our direct lending capabilities and provide financing to a critical segment of U.S. companies, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-09718 The PNC Financial Services Group, Inc. (Exact name of reg ...

PNC Financial Services Group saw average commercial loans dip in the first quarter as businesses remained cautious about the macroeconomic environment.Overall, average loans decreased 1%. Within this, consumer loans declined less than 1%, while average commercial loans decreased 2%, the bank said in a Tuesday (April 16) earnings release.The slight decline in consumer loans was driven by lower credit card and home equity balances, according to the release. The bank attributed the decline in commercial loans ...

The PNC Financial Services Group, Inc. (NYSE:PNC) Q1 2024 Earnings Conference Call April 16, 2024 10:00 AM ET Company Participants Bryan Gill - Director of IR William Demchak - Chairman, President & CEO Robert Reilly - EVP & CFO Conference Call Participants Betsy Graseck - Morgan Stanley John Pancari - Evercore Matt O'Connor - Deutsche Bank Gerard Cassidy - RBC Dave Rochester - Compass Point Ebrahim Poonawala - Bank of America Bill Carcache - Wolfe Research Ken Usdin - Jefferies Mike Mayo - Wells Fargo John ...

The PNC Financial Services Group, Inc.’s (PNC) first-quarter 2024 adjusted earnings per share of $3.36 surpassed the Zacks Consensus Estimate of $3.09. The adjusted figure excludes the impacts of expenses from the FDIC special assessment. In the prior-year quarter, the company reported earnings per share of $3.98.Results were aided by a rise in deposit balances and an improvement in the company’s credit quality. However, an increase in non-interest expenses and lower net interest income (NII) were headwinds ...

Key TakeawaysPNC Financial Services Group posted a first-quarter profit and revenue decline, and it sees little improvement ahead.The financial firm's net income slumped 21% year-over-year, and revenue was down 8%.PNC predicted current-quarter and full-year net interest income and revenue will be little changed or lower compared with the first quarter and 2023. PNC Financial Services Group (PNC) shares lost ground Tuesday as the bank posted a big drop in first-quarter profit and revenue, and offered soft gu ...

The PNC Financial Services Group, Inc (PNC) reported $5.15 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 8.2%. EPS of $3.36 for the same period compares to $3.98 a year ago.The reported revenue represents a surprise of -0.62% over the Zacks Consensus Estimate of $5.18 billion. With the consensus EPS estimate being $3.09, the EPS surprise was +8.74%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.36 per share, beating the Zacks Consensus Estimate of $3.09 per share. This compares to earnings of $3.98 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.74%. A quarter ago, it was expected that this company would post earnings of $2.99 per share when it actually produced earnings of $3.16, delivering a surprise of 5.69%. Over the last four q ...

Exhibit 99.2 THE PNC FINANCIAL SERVICES GROUP, INC. FINANCIAL SUPPLEMENT FIRST QUARTER 2024 (Unaudited) THE PNC FINANCIAL SERVICES GROUP, INC. FINANCIAL SUPPLEMENT FIRST QUARTER 2024 (UNAUDITED) Consolidated Results: Page Income Statement 1 Balance Sheet 2 Average Balance Sheet 3 Details of Net Interest Margin 4 Loans 5 Allowance for Credit Losses 6-7 Nonperforming Assets ...

Grew liquidity and capital; reduced expenses; credit quality stable PITTSBURGH, April 16, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 1Q24 4Q23 1Q23 First Quarter Highlights Financial Results Comparisons reflect 1Q24 vs. 4Q23 Revenue $    5,145 $    5,361 $    5,603   Income Statement   ▪  Revenue decreased 4% <p ...