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PNC Financial Services Group Inc PNC

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Stock XNYS Rating as of
$181.21 +1.21 (0.67%)
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As of Delayed Price Closed
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Company Report

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PNC Earnings: Net Interest Income Holds Up Relatively Well; Maintaining Our $175 Fair Value Estimate

Suryansh Sharma,

Narrow-moat-rated PNC Financial Services reported second-quarter earnings per share of $3.39. Special items this quarter included an accounting gain on Visa Class B shares, partially offset by security repositioning, derivative fair value adjustments, and a contribution expense to the PNC Foundation. The net impact of all nonrecurring items was about $0.09 to EPS. Fees came in slightly higher than the first quarter, primarily driven by growth in capital markets fees and other income. Loan growth numbers were muted in the first half of the year, and management doesn’t see evidence of this improving in the near term. We don’t anticipate a significant change to our $175 fair value estimate as we incorporate second-quarter results.

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Price vs Fair Value

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PNC is trading at a 548% premium.
Price
$181.21
Fair Value
$527.00
Uncertainty
Medium
1-Star Price
$832.37
5-Star Price
$715.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

PNC's acquisition of BBVA seems likely to add value to the franchise and for shareholders. It will make PNC one of the regional banks with the most scale and could drive above-market fee growth for several years.

Bears

There are few positive catalysts left for the banks. Funding costs are running higher, net interest income has likely peaked, higher regulatory scrutiny is likely, and a potential economic slowdown may be around the corner.

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Trading Information

Previous Close Price
$180.00
Day Range
$180.05–182.42
52-Week Range
$109.40–182.51
Bid/Ask
$165.00 / $192.00
Market Cap
$72.04 Bil
Volume/Avg
1.8 Mil / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
13.44
Price/Sales
3.55
Dividend Yield (Trailing)
3.45%
Dividend Yield (Forward)
3.53%
Total Yield
3.93%

Company Profile

PNC Financial Services Group is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking across the United States.
Sector
Financial Services
Industry
Banks - Regional
Stock Style Box
Large Value
Total Number of Employees
56,411
Website
https://www.pnc.com

Competitors

Valuation

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Metric
PNC
KEY
USB
Price/Earnings (Normalized)
 13.4416.3011.18
Price/Book Value
 1.371.261.43
Price/Sales
 3.552.582.60
Price/Cash Flow
 9.796.596.86
Price/Earnings
PNC
KEY
USB

Financial Strength

Metric
PNC
KEY
USB
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
PNC
KEY
USB
Return on Assets (Normalized)
 1.05%0.69%0.95%
Return on Equity (Normalized)
 12.86%11.20%13.55%
Return on Invested Capital (Normalized)
 ———
Return on Assets
PNC
KEY
USB
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Banks - Regional Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
BNP Paribas ADR
BNPQY
KkqmsttzFvzh$79.1 Bil
 Intesa Sanpaolo ADR
ISNPY
WcszdzqdvFyrp$72.3 Bil
 U.S. Bancorp
USB
TprzgpvzxGzv$70.9 Bil
 Truist Financial Corp
TFC
FddsgsymTcrccz$59.0 Bil
 Itau Unibanco Holding SA ADR
ITUB
RxkqzlfGjpxv$54.6 Bil
 Mizuho Financial Group Inc ADR
MFG
MxrsfczGnd$53.7 Bil
 Lloyds Banking Group PLC ADR
LYG
HntgpfnfsMnsyb$48.7 Bil
 NatWest Group PLC ADR
NWG
NtvkqbrxNnb$36.2 Bil
 Deutsche Bank AG
DB
SmrzMgsmh$30.4 Bil

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