Fri, Jan. 16, 7:34 AM
- CEO William Demchak: "The near-term revenue environment remains challenging."
- Q4 net income of $1.1B or $1.84 per share vs. $1.1B and $1.87 one year ago.
- Net interest income of $2.097B down 7% Y/Y, with NIM of 2.89% down nine basis points from Q3 and down 49 bps from a year ago.
- Noninterest income of $1.85B up 2% Y/Y. Asset management income of $376M up 3%, Consumer Services $321M down 2%, Corporate Services $397M up 32%, Residential Mortgage $135M down 50%.
- Noninterest expense of $2.539B up 1% Y/Y.
- Total loans of $204.8B up 5% Y/Y; Investment securities of $55.8B down 7%. Deposits of $232.2B up 5%.
- Tier 1 capital ratio of 10% vs. 9.4% a year ago. 6.1M shares repurchased during Q for $500M. Company has another $400M to do this quarter to hits its Fed-approved buyback total.
- Book value per share of $77.61 up from $72.07 a year ago. TBVS of $59.88 up from $54.57.
- Conference call at 10 ET
- Previously: PNC Financial beats by $0.10, beats on revenue (Jan. 16)
- PNC unchanged premarket
Fri, Jan. 16, 6:56 AM
Thu, Jan. 15, 5:30 PM
Oct. 15, 2014, 7:48 AM
- Q3 net income of $1B or $1.79 per share vs. $1B and $1.77 one year ago.
- Net interest income of $2.104B fell 6% from a year ago, with net interest margin of 2.98% down a whopping 49 basis points.
- Noninterest income of $1.737B up 3% from a year ago, with asset management revenue of $411M up 25%. Residential mortgage income of $140M fell 30%.
- Noninterest expense of $2.357B falls 2% from a year ago, with personnel expense of $1.189B up 1%.
- Tier 1 capital ratio of 10.1% up from 8.7% a year ago. 4.2M shares repurchased for $400M in Q3 vs. 2.6M for $200M in Q2. Buyback plan is for up to $1.5B ending in Q2 2015.
- Conference call at 10 ET
- Previously: PNC Financial beats by $0.08, beats on revenue
- PNC +1.7% premarket
Oct. 15, 2014, 6:45 AM
Oct. 14, 2014, 5:30 PM
Jul. 16, 2014, 9:46 AM
- Net interest income of $2.129B falls 6% Y/Y, with NIM slipping a whopping 46 basis points from a year ago and 14 bps from Q1.
- Noninterest income of $1.681B falls 7% Y/Y, with increases in about all categories offset by a lower gain on sale from Visa shares.
- Noninterest expense of $2.328B falls 3% Y/Y
- 2.6M shares repurchased during quarter.
- Common equity Tier 1 capital ratio of 11%, up from 10.8% at end of Q1.
- PNC -4%
- Previously: PNC Financial beats by $0.07, revenues in line
Jul. 16, 2014, 6:42 AM
Jul. 15, 2014, 5:30 PM
Apr. 16, 2014, 7:38 AM
- Net income of $1.1B of $1.82 per share compares to $995M or $1.74 per share one year ago.
- Net interest income of $2.2B fell 8% Y/Y with NIM of 3.26% falling 55 bps thanks to lower interest-earnings asset yields and the decline in purchase accounting accretion. Noninterest income of $1.6B gained 1% Y/Y, with residential mortgage income of $161M falling 31%, but asset management income of $364M up 18%.
- Noninterest expense of $2.2B fell 4% Y/Y thanks to personnel cuts.
- Tier 1 capital ratio of 9.7% compares to 9.4% at the end of 2013 and 8% one year ago. Tangible book value per share of $56.33 is up from $54.57 at the end of 2013 and $50.30 one year ago.
- Press release, Q1 results
- CC at 10 ET
- PNC +2% premarket
Apr. 16, 2014, 6:31 AM| Comment!
Apr. 16, 2014, 12:05 AM
Apr. 15, 2014, 5:30 PM
Jan. 16, 2014, 8:38 AM
- Net interest income of $2.27B falls 7% Y/Y, with NIM of 3.38% down from 3.85% a year ago.
- Noninterest income of $1.8B grows 10% Y/Y and 7% from last quarter thanks to a benefit of mortgage repurchase obligations which boosted income by $158M this year after a $254M hit a year ago. Mortgage banking income of $147M falls 42% Y/Y. Asset management income of $364M up 21%.
- Noninterest expense of $2.55B falls 10% Y/Y, the comparison helped by some extraordinary charges a year ago. Personnel expenses of $1.2B fall 1%.
- Basel Tier 1 common capital ratio of 10.5% vs. 9.6% at the start of 2013. Tangible book value per share of $54.68 vs. $49.18 at the start of the year.
- CC at 10 ET
- Q4 results, press release
- PNC flat premarket
Jan. 16, 2014, 6:38 AM| Comment!
Jan. 16, 2014, 12:05 AM
PNC vs. ETF Alternatives
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.
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