Goldman Sachs Maintains Neutral on PNC Despite Strong Results, Cites Modest FY24 Outlook

Loading...Loading...Goldman Sachs analyst Richard Ramsden anticipates a neutral investor response to PNC Financial Services Group, Inc.‘s PNC stronger results and updated FY24 guidance.Today, the bank reported a revenue increase of 2% Y/Y to $5.411 billion, slightly missing the consensus of$5.412 billion, while adjusted EPS of $3.30 topped the consensus of$2.98.For FY24, PNC expects net interest income (NII) to decline 4%, revenue to be down 1%-2% (vs. consensus of roughly unchanged Y/Y), and average loan ...