PNC Financial Services Group Inc
PNC: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $196.00 | Mhxplq | Ctqzfpwry |
PNC Earnings: Expenses Are Well-Managed; Net Interest Income Will Worsen Before Seeing Improvement
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Narrow-moat-rated PNC Financial reported decent results in the first quarter as earnings came in at $3.10 per share, compared with FactSet’s consensus estimate of $3.01 per share. Included in the results was an incremental $130 million FDIC special assessment charge related to the FDIC increasing its estimated loss from the March 2023 banking events. We do not anticipate a significant change to our $175 per share fair value estimate as we incorporate first-quarter results.