PNC Shares Rise 3% After Fourth-Quarter Earnings and Revenue Beat

Core Insights - PNC Financial Services Group reported fourth-quarter earnings that exceeded expectations, with adjusted earnings of $4.88 per share compared to the analyst consensus of $4.19, leading to a more than 3% increase in shares intra-day [1] - The bank achieved record revenue of $6.1 billion, surpassing estimates of $5.95 billion and reflecting a 9% year-over-year increase driven by growth in both net interest income and noninterest income [1] Financial Performance - Net interest income rose to $3.7 billion, marking a 2% increase from the prior quarter and a 6% increase year over year, aided by lower funding costs, loan growth, and continued repricing of fixed-rate assets [2] - The net interest margin improved by 5 basis points sequentially to 2.84% [2] - Fee income increased by 3% quarter over quarter to $2.1 billion, driven by stronger capital markets and advisory activity [2] Strategic Developments - PNC announced the completion of its acquisition of FirstBank Holding Company on January 5, 2026, which adds $26 billion in assets, $16 billion in loans, and $23 billion in deposits [3] - The bank plans to increase share repurchases to approximately $600 million to $700 million in the first quarter of 2026 [3]