PNC Financial's (PNC) Strategic Actions Aid as Costs Rise [Yahoo! Finance]
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Yahoo! Finance
Given the company's earnings strength, its capital distribution activities seem sustainable. However, an elevated expense base and a lack of loan portfolio diversification are major concerns. PNC Financial thrives on a strong balance sheet position, evidenced by a steady rise in loans and deposit balances. Both loans and deposits witnessed a compound annual growth rate (CAGR) of 7.6% and 9.9%, respectively, over the past four years (2029-2024). In October 2023, the company acquired loan commitments from Signature Bank worth approximately $16 billion. The company expects period-end loan balances to rise 3-4% in 2024. Our model estimates total loans and deposit balances to increase at a CAGR of 3.5% and 1.1%, respectively, over the next three years (ended 2026). The growing loan balances and a well-diversified deposit base are set to strengthen its financials. PNC Financial's NII witnessed a four-year CAGR (ended 2023) of 8.7%. As the Federal Reserve has signaled approximately three
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PNC
News
- The PNC Financial Services Group, Inc. (NYSE: PNC) had its price target lowered by analysts at JPMorgan Chase & Co. from $163.50 to $163.00. They now have an "overweight" rating on the stock.MarketBeat
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PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 4/29/24 - Form 8-K
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- PNC's page on the SEC website