1339 ET - PNC Financial Services Group downplayed the need to do a large acquisition and focused more on net interest income growth, Truist Securities' John McDonald says in a research note. The Pittsburgh bank and financial-services company reported $3.56 billion in NII, a 7.7% increase from the year-ago period. McDonald notes the PNC on its analyst call focused on NII sustaining growth around 7% in 2025 and 2026 through a mix of balance sheet repricing and organic growth, the latter helped by ongoing share gain momentum in its expansion markets. "The company remains confident in the outlook for continued strong positive operating leverage and pointed to share repurchases remaining in the $300-$400 million range in 3Q," he added. Shares tick up 1%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
July 16, 2025 13:39 ET (17:39 GMT)
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