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Last $97.82 USD
Change Today -0.36 / -0.37%
Volume 1.6M
As of 4:15 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

pnc financial services group (PNC) Snapshot

Open
$98.23
Previous Close
$98.18
Day High
$98.52
Day Low
$97.07
52 Week High
07/23/15 - $100.52
52 Week Low
10/16/14 - $76.69
Market Cap
50.7B
Average Volume 10 Days
1.8M
EPS TTM
$6.89
Shares Outstanding
517.9M
EX-Date
07/13/15
P/E TM
14.2x
Dividend
$2.04
Dividend Yield
2.03%
Current Stock Chart for PNC FINANCIAL SERVICES GROUP (PNC)

pnc financial services group (PNC) Details

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock, and Non-Strategic Assets Portfolio. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management services to consumer and small business customers through branch network, ATMs, call centers, online banking, and mobile channels. This segment operates 2,697 branches and 8,605 ATMs. The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, equipment leases, cash and investment management, receivables management, disbursement and funds transfer, information reporting, trade services, foreign exchange, derivatives, securities, loan syndications, mergers and acquisitions advisory, equity capital markets advisory, and related services for mid-sized and large corporations, government, and not-for-profit entities. It also offers commercial loan servicing, and real estate advisory and technology solutions for the commercial real estate finance industry. The Asset Management Group segment provides investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and administration for individuals and their families; and institutional asset management services. The Residential Mortgage Banking segment offers first lien residential mortgage loans. The BlackRock segment provides a range of investment and risk management services to institutional and retail clients. The Non-Strategic Assets Portfolio segment offers consumer residential mortgage, brokered home equity loans, and lines of credit, as well as commercial real estate loans and leases. The PNC Financial Services Group, Inc. was founded in 1922 and is headquartered in Pittsburgh, Pennsylvania.

49,776 Employees
Last Reported Date: 07/15/15
Founded in 1922

pnc financial services group (PNC) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $500.0K
Head of Operations & Technology and Executive...
Total Annual Compensation: $1.9M
Chief Executive Officer of PNC Mortgage and P...
Total Annual Compensation: $620.0K
Head of Corporate & Institutional Banking and...
Total Annual Compensation: $700.0K
Compensation as of Fiscal Year 2014.

pnc financial services group (PNC) Key Developments

The PNC Financial Services Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2015; Provides Financial Guidance for the Third and Full Year of 2015

The PNC Financial Services Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net interest income was $2,052 million against $2,129 million a year ago. Total revenue was $3,866 million against $3,810 million a year ago. Income before income taxes and non-controlling interests was $1,454 million against $1,410 million a year ago. Net income attributable to common shareholders was $992 million against $1,001 million a year ago. Net income attributable to diluted common shares was $987 million against $995 million a year ago. Diluted earnings per common share were $1.88 against $1.85 a year ago. Return on average common shareholders' equity was 9.75% against 10.12% a year ago. Return on average assets was 1.19% against 1.31% a year ago. Book value per common share was $79.64 as on June 30, 2015. The decrease in core net interest income reflected lower loan and securities yields partially offset by loan growth and higher securities balances. Total revenue increased $56 million compared with second quarter 2014 due to higher noninterest income driven by client activity partially offset by lower net interest income. For the six months, net interest income was $4,124 million against $4,324 million a year ago. Total revenue was $7,597 million against $7,587 million a year ago. Income before income taxes and non-controlling interests was $2,782 million against $2,829 million a year ago. Net income attributable to common shareholders was $1,925 million against $1,993 million a year ago. Net income attributable to diluted common shares was $1,913 million against $1,978 million a year ago. Diluted earnings per common share were $3.63 against $3.67 a year ago. Return on average common shareholders' equity was 9.54% against 10.24% a year ago. Return on average assets was 1.18% against 1.33% a year ago. For the second quarter ended June 30, 2015, net charge-offs decreased to $67 million from $145 million a year ago. The company now expects full year 2015 effective tax rate is to be 26%. The company expects net interest income to remain stable in third quarter of 2015.

Pnc Financial Services to Close 100 Branches in 2015

PNC Financial Services announced that they are stepping up cost-cutting in 2015 amid a slide in second-quarter profits as low interest rates crimp the bank's ability to make money on lending. The company did not provide details about where those cuts will be made, but much of it will be on the retail side, as PNC plans to close 100 branches in 2015. By the end of 2015, PNC will have closed more than 400 branches since 2012 as customers do more of their banking online and through mobile devices.

PNC Appoints Gregory D. Wasson to its Board of Directors and Audit Committee

The PNC Financial Services Group, Inc. appointed Gregory D. Wasson to its board of directors, effective immediately. Wasson will serve on the board's audit committee. He is the former president and chief executive officer of Walgreens Boots Alliance.

 

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Industry Analysis

PNC

Industry Average

Valuation PNC Industry Range
Price/Earnings 13.5x
Price/Sales 3.3x
Price/Book 1.2x
Price/Cash Flow 12.4x
TEV/Sales NM Not Meaningful
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