• PNC Financial’s 4Q revenue was $5.36 billion, meeting the estimated value of $5.32 billion.
• The company’s loans amounted to $321.51 billion, falling short of the estimated $329.41 billion.
• Deposits at the end of the period stood at $421.42 billion, slightly below the estimated $423.33 billion.
• The provision for credit losses was $232 million, considerably lower than the estimated $311.3 million.
• PNC’s efficiency ratio was 76%, higher than the estimated 66.8%.
• Net interest income was $3.40 billion, slightly above the estimate of $3.37 billion.
• The company’s net interest margin was as estimated at 2.66%.
• Net charge-offs were $200 million, lower than the estimated $217.6 million.
• Non-interest income reached $1.96 billion, exceeding the estimated $1.92 billion.
• Non-interest expenses were significantly higher than estimated, totaling $4.07 billion against an estimate of $3.37 billion.
• The return on average assets was 0.62%, lower than the estimated 0.79%.
• The return on average equity was 6.93%, falling short of the estimated 9.42%.
• The Tier 1 Basel III ratio was 9.9%, slightly above the estimate of 9.77%.
• PNC’s effective tax rate was 16.3%, lower than the estimated 18.3%.
• The diluted EPS was $1.85.
• The shares of PNC have been given 13 buys, 12 holds, and 3 sells ratings by analysts.
PNC Financial Services Group on Smartkarma
Smartkarma, an independent investment research network, has recently published a report on PNC Financial Services Group by Baptista Research. The report, titled “PNC Financial Services Group: Initiation of Coverage – Impact Of Banking Crisis & Other Developments”, provides insights into the major bank and financial service company. According to Baptista Research, despite a $400 million increase in accumulated other comprehensive loss during Q2, PNC’s tangible book value rose to $77.80. Based on this information, Baptista Research has given a ‘Hold’ rating for PNC’s stock.
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 long-term outlook for PNC Financial Services Group looks promising, according to Smartkarma’s Smart Scores. With an overall score of 4 out of 5, the company is performing well in key areas such as value and dividend. This is good news for investors who are looking for stability and potential returns from their investments.
PNC Financial Services Group, Inc. is a diversified financial services organization that offers a range of services including regional and wholesale banking, as well as asset management. With a strong score of 5 for momentum, the company is showing positive signs for future growth and development. However, it is important to note that the company’s resilience score of 2 is relatively low, which could indicate some potential risks or challenges in the future. Overall, PNC Financial Services Group has a solid foundation and is well-positioned for long-term success in the financial services industry.
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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