Bank Industry Standards applies standard analytics & forecasts to 800+ banks, Bank Industry Standards

Steve Lander

Bank Industry Standards applies standard analytics & forecasts to 800+ banks

Bank Industry Standards

Equity Bottom-Up

PNC Financial Services Group / Equity Bottom-Up

<p>Forecast method for us is upgraded once more, and PNC is the first bank under the improved structure.</p><p>Startpoint is PNC's earnings forecast for 2016 at ~10% below Consensus.&nbsp; The Bell Curve below exhibits detail : EPS 2016 is 50% likely to be +/- 5% around Consensusand and just as likely to be &gt;5% below Consensus.&nbsp; In our view, positive earnings surprise is zero, especially as all forecast estimates include 160c of gains (earned in 2014) which have less than proven sustainability.</p>

Forecast method for us is upgraded once more, and PNC is the first bank under the improved structure.Startpoint is PNC's earnings forecast for 2016 at ~10% below Consensus.&nbsp; The Bell Curve below exhibits detail : EPS 2016 is 50% likely to be +/- 5% around Consensusand and just as likely to be &gt;5% below Consensus.&nbsp; In our view, positive earnings surprise is zero, especially as all forecast estimates include 160c of gains (earned in 2014) which have less than proven sustainability.

PNC Financial Services Group

It's 50 / 50 , and zero