- Loans reached $316.47 billion, slightly below the estimate of $320.74 billion.
- Revenue totaled $5.57 billion.
- Deposits at the end-period stood at $426.74 billion, surpassing the estimate of $426.07 billion.
- Provision for credit losses recorded at $156 million, significantly lower than the estimated $288.2 million.
- Efficiency ratio was 63%, slightly above the estimate of 62%.
- Net interest income amounted to $3.52 billion, exceeding the estimate of $3.46 billion.
- Net charge-offs were $250 million, under the estimated $302.2 million.
- Non-interest income came in at $2.04 billion, close to the estimate of $2.05 billion.
- Non-interest expenses were higher at $3.51 billion, compared to an estimate of $3.35 billion.
- Return on average assets reached 1.14%, higher than the estimate of 0.98%.
- Return on average equity was at 12.4%, above the estimate of 10.8%.
- Tier 1 Basel III ratio stood at 10.5%, surpassing the estimate of 10.4%.
- Effective tax rate was significantly lower at 14.6%, compared to an estimate of 18.5%.
- Diluted EPS was $3.77, over the estimated $3.33.
- Analyst recommendations: 13 buys, 9 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 | 4 | |
| OVERALL SMART SCORE | 3.4 |
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
According to Smartkarma Smart Scores, PNC Financial Services Group is perceived to have a positive long-term outlook. With high scores in Value and Dividend at 4, investors may find PNC to be a solid choice for potential returns. The company also scores well in Momentum, indicating a strong market trend. Although Growth and Resilience scores are slightly lower, the overall picture appears favorable for PNC Financial Services Group.
PNC Financial Services Group, Inc. is a versatile financial services firm offering regional banking, wholesale banking, and asset management services across the nation and in key regional markets. With its strong focus on value, dividends, and momentum, the company seems poised for potential growth and stability in the long term.
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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