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Last $95.87 USD
Change Today -0.02 / -0.02%
Volume 973.5K
PNC On Other Exchanges
Symbol
Exchange
New York
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As of 3:18 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One PNC Plaza

249 Fifth Avenue

Pittsburgh, PA 15222

United States

Phone: 412-762-2000

Fax:

by one-to-four-family residential real estate. These loans are underwritten to government agency and/or third-party standards, and either sold, servicing retained, or held on the company’s balance sheet. Loan sales are primarily to secondary mortgage conduits of Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks and third-party investors, or are securitized and issued under the Government National Mortgage Association program. The mortgage servicing operation performs all functions related to servicing mortgage loans, primarily those in first lien position, for various investors and for loans owned by the company. Strategy: A strategic priority for the company is to build a stronger residential mortgage business offering delivery to customers while improving efficiencies. The company’s national distribution capability provides volume that drives economies of scale, risk dispersion and cost-effective extension of the retail banking footprint for cross-selling opportunities. BlackRock This segment, in which the company holds an equity investment, is a major publicly traded investment management firm providing a range of investment and risk management services to institutional and retail clients worldwide. Using a platform of active and index investment strategies across asset classes, BlackRock develops investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BlackRock also offers an investment and risk management technology platform, risk analytics and advisory services and solutions to a base of institutional investors. The company holds its equity investment in BlackRock as a key component of its revenue strategy. BlackRock is a publicly traded company, and additional information regarding its business is available in its filings with the Securities and Exchange Commission (SEC). Non-Strategic Assets Portfolio This segment includes a consumer portfolio of primarily residential mortgage and brokered home equity loans and lines of credit and a small commercial/commercial real estate loan and lease portfolio. The company obtained a portion of these non-strategic assets through acquisitions of other companies. Supervision and Regulation The company is a bank holding company registered under the Bank Holding Company Act of 1956 and a financial holding company under the Gramm-Leach-Bliley Act. The company is subject to supervision and periodic examination by, among other regulatory bodies, the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC). The Consumer Financial Protection Bureau is responsible for examining the company’s bank subsidiary, PNC Bank, National Association (PNC Bank), and its affiliates (including the company) for compliance with various federal consumer financial protection laws, including the laws relating to fair lending and prohibiting unfair, deceptive or abusive acts or practices in connection with the offer, sale or provision of consumer financial products or services, and for enforcing such laws with respect to PNC Bank and its affiliates. The company is also subject to regulation by the SEC by virtue of its status as a public company and by the SEC and the Commodity Futures Trading Commission due to the nature of some of the company’s businesses. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Federal Reserve to establish improved prudential standards for bank holding companies, such as the company, as well as systemically important non-bank financial companies designated by the Financial Stability Oversight Council for Federal Reserve supervision. As of December 31, 2014, PNC Bank had an ‘Outstanding’ rating with respect to the Community Reinvestment Act. BlackRock is subject to the supervision and regulation of the Federal Reserve. PNC Bank is insured by the FDIC and subject to premium assessments. The company’s registered broker-dealer and investment advise

 

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Industry Analysis

PNC

Industry Average

Valuation PNC Industry Range
Price/Earnings 13.0x
Price/Sales 3.3x
Price/Book 1.2x
Price/Cash Flow 11.9x
TEV/Sales NM Not Meaningful
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