PNC Financial Services Q3 net income rises

Reuters
10/15
PNC Financial Services Q3 net income rises

Overview

  • PNC Q3 revenue beats expectations, growing 9% yr/yr to $5.9 bln

  • Net income for Q3 rises to $1.8 bln, with diluted EPS at $4.35

  • PNC announced $4.1 bln acquisition of FirstBank on Sept. 8, expanding in Colorado and Arizona

Outlook

  • PNC expects FirstBank acquisition to close in early 2026

  • Company plans strategic expansion in Colorado and Arizona

Result Drivers

  • FEE INCOME GROWTH - Fee income increased 9% driven by broad-based growth across categories

  • CREDIT QUALITY - Strong credit quality with reduced net loan charge-offs and stable allowance for credit losses

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$5.91 bln

$5.83 bln (15 Analysts)

Q3 EPS

$4.35

Q3 Net Income

$1.82 bln

Q3 Net Interest Income

$3.64 bln

Q3 Adjusted Net Interest Margin

2.79%

Q3 CET1 Capital Ratio

10.60%

Q3 Provision for Credit losses

$167 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy"

  • Wall Street's median 12-month price target for PNC Financial Services Group Inc is $225.00, about 15.7% above its October 14 closing price of $189.73

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nPn20DXqHa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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