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PNC Financial Services Group, Inc. (PNC)

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  • Mar. 19, 2012, 2:08 PM
    The Fed plans to fine eight more banks - including HBC, STI, MET, USB, PNC, and GS, which sold its Litton Loan Servicing unit last fall to Ocwen Financial - that have been subject to scrutiny amid allegations of improper foreclosure practices, adding to the list of the five largest U.S. mortgage servicing firms penalized last month.
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  • Feb. 2, 2012, 2:12 PM
    Barclays (BCS +0.9%) is considering buying Toronto Dominion (TD -0.3%), RBC (RY -1.2%) or PNC Financial (PNC +0.3%) according to Fox Business News.
    | 2 Comments
  • Jan. 18, 2012, 3:37 PM
    HUD Secretary Donovan says a settlement is "very close" in the bank foreclosure practices investigation. Administration officials have floated the idea of deal in the past to no avail, but earnings reports today by PNC and USB revealed charges that could be tied to a settlement.
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  • Jan. 18, 2012, 2:47 PM
    PNC Financial Services (PNC -2.8%) trails the market after its Q4 EPS missed estimates earlier today. Profit slid 42% Y/Y as the lender continues to struggle with a decline in revenue and steep charges. One positive takeaway however, is that credit costs continue to fall. Loan loss provisions totaled $190M for the quarter, down significantly from $442M the year prior.
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  • Jan. 18, 2012, 7:17 AM
    PNC Financial Services (PNC): Q4 EPS of $1.39 misses by $0.02. Revenue of $3.55B (-9.1% Y/Y) beats by $10M. (PR)
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  • Jan. 18, 2012, 12:05 AM
    Notable earnings before Wednesday's open: APH, ASML, BK, FAST, GS, NTRS, PNC, SCHW, STT, USB
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  • Jan. 12, 2012, 12:43 PM
    Visa (V), MasterCard (MA) and 13 large banks, including BofA (BAC), Citigroup (C) and JPMorgan (JPM), face billions of dollars of liabilities in a lawsuit from 5M retailers that accuse the defendants of illegally colluding to overcharge for credit card transactions.
    | 6 Comments
  • Jan. 10, 2012, 3:53 AM
    The Justice Department is reportedly reaching out to various banks to gauge their interest in joining a wide-ranging mortgage settlement in the works with five major mortgage servicers. The banks probably includes HSBC (HBC), PNC (PNC), MetLife (MET), SunTrust (STI) and U.S. Bancorp (USB).
    | 5 Comments
  • Dec. 23, 2011, 12:21 PM
    The Federal Reserve approves PNC's $3.45B acquisition of the U.S. retail banking subsidiary of Royal Bank of Canda (RY). RBC is selling about $27B in assets in 424 branches across the southeast portion of the country.
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  • Dec. 15, 2011, 5:40 PM
    There's no letup in sight for U.S. banks, CLSA's Mike Mayo says: "This is going to be the worst revenue growth year for U.S. banks since 1938, and next year is not going to be a whole lot better." Mayo has Underperform or Sell ratings on 13 of the 19 U.S. banks he covers; his only Buy is PNC, because management has "stuck to their knitting."
    | 1 Comment
  • Nov. 29, 2011, 2:36 PM
    PNC Financial (PNC +1.1%) and Royal Bank of Canada (RY +1.7%) move higher after PNC files an 8-K stating the Fed won't require it to issue stock in order to go through with its $3.6B acquisition of RBC's U.S. retail bank business. PNC expects the deal to close in Q1 2012.
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  • Nov. 17, 2011, 6:50 PM
    Fitch has it wrong, U.S. banks could actually wind up benefitting from Europe's debt crisis, says Rochdale's Dick Bove, He cites two reasons: First, U.S. banks have a relatively low level of exposure to European banks. Second, the problems facing European banks could actually drive business to seek healthier institutions in the U.S. His top picks: PNC Financial (PNC) and Fifth Third Bancorp (FITB). Both get hit when Europe erupts, but neither are heavily exposed to European banks.
    | 17 Comments
  • Nov. 3, 2011, 2:05 PM
    TheStreet.com says regional banks are using acquisitions to build market share and grow revenues with European banks exiting the U.S. market to concentrate on their sovereign debt headaches. Despite facing exposure to the U.S. economy and pressure on margins from low interest rates, regionals looks ripe to outperform. Picks: USB, WBS, FITB, EWBC, PNC.
    | 2 Comments
  • Oct. 27, 2011, 9:00 AM
    Premarket gainers: FRO +16%. MF +15%. DB +15%. RBS +13%. CFX +13%. CTXS +13%. ING +12%. BCS +12%. SNV +11%. NBG +10%. KYG 99 BBVA +9%. JASO +8%. CMED +8%. UBS +8%. PHM +8%. BAC +8%. MT +8%. MS +7%. RIO +7%. MTW +7%. COG +7%. C +7%. STD +7%. ANR +7%. HOV +6%. RF +6%. FCX +6%. NOK +6%. IRE +6%. FSLR +6%. PHG +6%. JPM +6%. DRYS +6%. HBC +6%. PNC +6%. MPEL +6%. BHP +6%. VLO +6%.
    Losers: MDR -21%. TQNT -17%. AVP -13%. VNET -9%. AGNC -4%. APIL -4%.
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  • Oct. 21, 2011, 8:14 PM
    What happens in Europe is irrelevant to U.S. banks, says Dick Bove. It may mean everything to investors, but it has nothing to do with the operating earnings of these companies. Regional banks, trust banks and national banks are all doing quite well. His top picks: U.S. Bancorp (USB), PNC (PNC), BNY Mellon (BK), State Street (STT) and Northern Trust (NTRS). (video)
    | 25 Comments
  • Oct. 19, 2011, 7:21 AM
    PNC Financial Services (PNC): Q3 EPS of $1.55 beats by $0.05. Revenue of $3.54B (-1.5% Y/Y) misses by $30M. (PR)
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Company Description
PNC Financial Services Group Inc is a financial services company. It operates in six segments: Retail Banking; Corporate & Institutional Banking; Asset Management Group; Residential Mortgage Banking; BlackRock; and Non-Strategic Assets Portfolio.
Sector: Financial
Country: United States