- PNC Financial’s loans in Q3 reached $321.38 billion, closely aligning with the estimated $321.72 billion.
- Total revenue for the quarter was reported at $5.43 billion.
- Deposits at the end of the period were $423.97 billion, surpassing the estimate of $417.01 billion.
- Provision for credit losses was $243 million, below the expected $265.7 million.
- The efficiency ratio matched expectations at 61%.
- Net interest income amounted to $3.41 billion, slightly above the estimate of $3.37 billion.
- Net charge-offs were recorded at $286 million, exceeding the estimate of $274.7 million.
- Non-interest income stood at $2.02 billion, meeting the expected amount.
- Non-interest expenses were $3.33 billion, nearly matching the estimate of $3.34 billion.
- Return on average assets was better than expected at 1.05%, compared to the 0.98% estimate.
- Return on average equity also performed well at 11.7%, surpassing the estimate of 11.2%.
- The Tier 1 Basel III ratio remained steady at 10.3%, as estimated.
- The effective tax rate was 19.2%, higher than the expected 18.6%.
- Diluted EPS came in at $3.49, beating the estimate of $3.33.
- Analyst ratings include 13 buys, 8 holds, and 2 sells.
A look at PNC Financial Services Group Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
The Smartkarma Smart Scores for PNC Financial Services Group indicate a promising long-term outlook for the company. With strong scores in Value and Dividend at 4, investors may find PNC Financial Services Group to be undervalued and offering attractive dividend returns. However, the slightly lower score in Growth at 3 suggests moderate potential for future expansion. In terms of Resilience, the company scores a 2, indicating some vulnerabilities. On the positive side, PNC Financial Services Group shows excellent Momentum with a score of 5, highlighting strong market dynamics and potential for continued growth.
PNC Financial Services Group, Inc. is a diversified financial services organization offering regional banking, wholesale banking, and asset management services across the nation and in key regional markets. With a solid foundation and positive scores in key areas like Value, Dividend, and Momentum, PNC Financial Services Group appears to be well-positioned for long-term success. Investors looking for a company with a stable dividend yield and growth potential may find PNC Financial Services Group to be an appealing investment option.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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