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
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(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.)