Jay Powell just made 2024 more of a puzzle for regional banks [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
This past week 12 of the nation's best-known midsize lenders reported sizable drops in first quarter profits thanks largely to the effect elevated interest rates are having on their operations. Many of these banks are paying higher costs for deposits as customers continue to seek out higher yields, and those costs are eating into a key revenue source known as net interest income. That pressure is not likely to abate anytime soon as the Fed dials back its expectations for rate cuts in 2024, a move that was cemented by Powell this past Tuesday just as many regional banks prepared to release their first quarter results. Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards The Fed was a popular topic for regional bank executives as they explained their results to Wall Street and described their outlook for the rest of the year. Most reaffirmed that they expect the money they make from lending to drop as rates remain elevated. Some, howev
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PNC
News
- Mortgage Bonds Investors Get Some Payments After Dustup That Shook Market [BNN Bloomberg (Canada)]BNN Bloomberg
- 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
- Jeffrey Kiesel named EY Entrepreneur of The Year® 2024 Heartland Award Finalist [Yahoo! Finance]Yahoo! Finance
- San Francisco Ghirardelli Square store sees uptick in business following APEC Summit [CBS News]CBS News
- EY Announces Hugh Lytle, Founder, Chairman, and CEO of Equality Health, as an Entrepreneur Of The Year® 2024 Pacific Southwest Award Finalist [Yahoo! Finance]Yahoo! Finance
PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 5/2/24 - Form 10-Q
- 4/29/24 - Form 8-K
- 4/26/24 - Form 4
- PNC's page on the SEC website