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PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pnc Reports Second Quarter 2018 Net Income Of $1.4 Bln
Friday, 13 Jul 2018 

July 13 (Reuters) - PNC Financial Services Group Inc ::PNC REPORTS SECOND QUARTER 2018 NET INCOME OF $1.4 BILLION, $2.72 DILUTED EPS.Q2 REVENUE $4.3 BILLION VERSUS I/B/E/S VIEW $4.25 BILLION.QTRLY DILUTED EARNINGS PER COMMON SHARE $2.72.NET INTEREST MARGIN INCREASED TO 2.96 PERCENT FOR Q2 OF 2018 COMPARED WITH 2.91 PERCENT FOR Q1.PNC FINANCIAL SERVICES GROUP - AVERAGE LOANS INCREASED $1.6 BILLION, OR 1 PERCENT, IN Q2 TO $222.7 BILLION COMPARED WITH THE FIRST QUARTER.NET INCOME OF $1.4 BILLION FOR Q2 INCREASED 9 PERCENT COMPARED WITH $1.2 BILLION FOR Q1.NET CHARGE-OFFS WERE $109 MILLION FOR Q2 COMPARED WITH $113 MILLION FOR Q1.QTRLY PROVISION FOR CREDIT LOSSES WAS $80 MILLION, A DECREASE OF $12 MILLION OVER PREVIOUS QUARTER.PNC FINANCIAL SERVICES GROUP - BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 9.5 PERCENT AT JUNE 30, VERSUS 9.6 PERCENT AT MARCH 31.PNC FINANCIAL SERVICES GROUP - QTRLY NET INTEREST INCOME $2,413 MILLION VERSUS $2,258 MILLION.Q2 EARNINGS PER SHARE VIEW $2.58 -- THOMSON REUTERS I/B/E/S.  Full Article

PNC Raises Common Stock Dividend To 95 Cents Per Share
Thursday, 5 Jul 2018 

July 5 (Reuters) - PNC Financial Services Group Inc ::PNC RAISES COMMON STOCK DIVIDEND TO 95 CENTS PER SHARE.PNC FINANCIAL SERVICES GROUP INC - DECLARED A QUARTERLY CASH DIVIDEND ON COMMON STOCK OF 95 CENTS PER SHARE, AN INCREASE OF 20 CENTS PER SHARE FROM Q2.  Full Article

PNC Receives No Objection To Its Capital Plan
Thursday, 28 Jun 2018 

June 28 (Reuters) - PNC Financial Services Group Inc ::PNC RECEIVES NO OBJECTION TO ITS CAPITAL PLAN.PNC FINANCIAL SERVICES GROUP INC - CAPITAL PLAN ALSO INCLUDED SHARE REPURCHASE PROGRAMS OF UP TO $2.0 BILLION FOR FOUR-QUARTER PERIOD BEGINNING IN Q3.PNC FINANCIAL SERVICES GROUP INC - SHARE REPURCHASE PROGRAMS INCLUDE REPURCHASES OF UP TO $300 MILLION RELATED TO EMPLOYEE BENEFIT PLANS.PNC FINANCIAL SERVICES GROUP - CAPITAL PLAN INCLUDED RECOMMENDATION TO INCREASE QTRLY CASH DIVIDEND ON COMMON STOCK TO 95 CENTS PER SHARE IN Q3 2018.  Full Article

PNC Financial Services Expects Q2 Loan Growth To Be Modest- Conf Call
Friday, 13 Apr 2018 

April 13 (Reuters) - PNC Financial Services Group Inc ::PNC FINANCIAL SERVICES CFO SAYS FY 2018 GUIDANCE REMAINS UNCHANGED -CONF CALL.PNC FINANCIAL SERVICES CFO EXPECTS Q2 LOAN GROWTH TO BE MODEST, EXPECT TOTAL NET INTEREST INCOME TO BE UP LOW SINGLE DIGITS -CONF CALL.PNC FINANCIAL SERVICES CFO EXPECTS Q2 PROVISION TO BE BETWEEN $100 MILLION AND $150 MILLION-CONF CALL.PNC CFO SAYS FED'S PROPOSAL IN TERMS OF CHANGES TO CCAR ARE ENCOURAGING-CONF CALL.PNC CEO SAYS IN REAL ESTATE LOANS WOULD'NT EXPECT TO SEE GROWTH RATES AS SEEN IN THE PAST -CONF CALL.  Full Article

PNC Financial Reports FY2017 Net Income $5.4 Billion
Friday, 12 Jan 2018 

Jan 12 (Reuters) - PNC Financial Services Group Inc ::PNC REPORTS RECORD FULL YEAR 2017 NET INCOME OF $5.4 BILLION, $10.36 DILUTED EPS.Q4 REVENUE $4.3 BILLION VERSUS I/B/E/S VIEW $4.18 BILLION.QTRLY DILUTED EARNINGS PER COMMON SHARE $4.18 ‍​.QTRLY NET INTEREST INCOME OF $2.3 BILLION WAS STABLE WITH Q3.TRANSITIONAL BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 10.4 PERCENT AT DEC 31, 2017.TOTAL LOANS AT DECEMBER 31, 2017 DECLINED $.6 BILLION COMPARED WITH SEPTEMBER 30, 2017‍​.QTRLY PROVISION FOR CREDIT LOSSES WAS $125 MILLION, A DECLINE OF $5 MILLION FROM PREVIOUS QUARTER.PNC FINANCIAL SERVICES GROUP - PRO FORMA FULLY PHASED-IN BASEL III COMMON EQUITY TIER 1 CAPITAL RATIO WAS AN ESTIMATED 9.8 PERCENT AT DEC 31, 2017.QTRLY NET INTEREST MARGIN WAS 2.88 PERCENT COMPARED WITH 2.91 PERCENT IN THE THIRD QUARTER‍​.NET CHARGE-OFFS INCREASED TO $123 MILLION FOR Q4 COMPARED WITH $106 MILLION FOR Q3.4Q17 IMPACT ON NET INCOME FROM TAX LEGISLATION AND SIGNIFICANT ITEMS‍​ $911 MILLION.Q4 EARNINGS PER SHARE VIEW $2.20 -- THOMSON REUTERS I/B/E/S.QTRLY NON-GAAP EPS EXCLUDING IMPACT OF TAX LEGISLATION & SIGNIFICANT ITEMS $2.29‍​.  Full Article

PNC Announces Redemption Of 1.5 Pct Senior Bank Notes Due Feb. 23, 2018
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - PNC Financial Services Group Inc ::PNC ANNOUNCES REDEMPTION OF 1.500 PERCENT SENIOR BANK NOTES DUE FEBRUARY 23, 2018.PNC FINANCIAL SERVICES - ANNOUNCED REDEMPTION ON JAN. 24, 2018 OF OUTSTANDING SENIOR NOTES DUE FEB. 23, 2018 ISSUED BY PNC BANK, NATIONAL ASSOCIATION.PNC FINANCIAL - REDEMPTION PRICE WILL BE EQUAL TO $1,000 PER $1,000 IN PRINCIPAL AMOUNT, PLUS ANY ACCRUED, UNPAID DISTRIBUTIONS TO JAN. 24, 2018.  Full Article

PNC Financial Services Increases Size of Board To 16​
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Pnc Financial Services Group Inc ::PNC FINANCIAL SERVICES GROUP SAYS BOARD INCREASED NUMBER OF DIRECTORS FROM 14 TO 16​ - SEC FILING.  Full Article

PNC Says Will Raise Minimum Pay Rate To $15 An Hour By End Of 2018
Friday, 22 Dec 2017 

Dec 22 (Reuters) - PNC Financial Services Group Inc ::WILL PROVIDE FOR EMPLOYEES IN DEFINED BENEFIT PENSION PLAN AN ADDITIONAL $1,500 TO THEIR EXISTING PENSION ACCOUNTS.RAISE MINIMUM PAY RATE TO $15 AN HOUR BY END OF 2018.PNC TO PROVIDE A $1,000 CASH PAYMENT TO ABOUT 47,500 EMPLOYEES IN Q1 OF 2018.  Full Article

PNC Bank Announces Definitive Agreement To Acquire The Trout Group
Monday, 27 Nov 2017 

Nov 27 (Reuters) - PNC Financial Services Group Inc ::PNC BANK ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE THE TROUT GROUP, LLC.‍PNC BANK SAYS TROUT WILL BE COMBINED WITH SOLEBURY COMMUNICATIONS, A WHOLLY-OWNED SUBSIDIARY OF PNC​.‍PNC BANK SAYS DEAL IS EXPECTED TO CLOSE IN LATE DECEMBER, TERMS OF DEAL WILL NOT BE DISCLOSED​.  Full Article

Appaloosa Lp cuts share stake in Chesapeake, Bank of America
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - :Appaloosa Lp cuts share stake in Chesapeake Energy Corp to 766,000 shares from 3.6 million shares - sec filing.Appaloosa Lp cuts share stake in Bank of America Corp by 27.9 percent to 6.3 million shares.Appaloosa Lp cuts share stake in PNC Financial Services Group Inc by 48.2 percent to 922,510 shares.Change in holdings are as of September 30, 2017 and compared with the previous quarter ended as of June 30, 2017.  Full Article

US STOCKS-Wall St rebounds with technology stocks leading the way

NEW YORK, Oct 12 The U.S. benchmark S&P 500 stock index snapped a six-day losing streak on Friday as technology stocks recovered after a week of losses, with investors looking for bargains ahead of the third quarter earnings reporting season.