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Company Description

Contact Info

The Tower at PNC Plaza

300 Fifth Avenue

Pittsburgh, PA 15222

United States

Phone: 412-762-2000

Fax:

The PNC Financial Services Group, Inc. operates as a financial services company in the United States. The company’s bank subsidiary is PNC Bank, National Association (PNC Bank), a national bank headquartered in Pittsburgh, Pennsylvania. The company has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing many of its products and services nationally, as well as other products and services in the company’s primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. The company also provides certain products and services internationally. Segments The company has six business segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock, and Non-Strategic Assets Portfolio. Retail Banking This segment provides deposit, lending, brokerage, investment management and cash management services to consumer and small business customers within the company’s primary geographic markets. The company’s customers are serviced through its branch network, ATMs, call centers, online banking and mobile channels. The branch network is located primarily in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin, and South Carolina. Strategy: The company’s core strategy is to acquire and retain customers who maintain their primary checking and transaction relationships with the company. A strategic priority for the company is to redefine the retail banking business in response to changing customer preferences. A key element of this strategy is to expand the use of lower-cost alternative distribution channels while continuing to optimize the traditional branch network. Corporate & Institutional Banking This segment provides lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. Treasury management services include cash and investment management, receivables management, disbursement services, funds transfer services, information reporting and global trade services. Capital markets-related products and services include foreign exchange, derivatives, securities sales and underwriting, loan syndications, mergers and acquisitions advisory, equity capital markets advisory and related services. The company also provides commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are generally provided within the company’s primary geographic markets, with certain products and services offered nationally and internationally. Strategy: Corporate & Institutional Banking’s strategy is to be the major relationship-based provider of traditional banking products and services to its customers through the economic cycles. Asset Management Group This segment includes personal wealth management for high net worth and ultra high net worth clients and institutional asset management. Wealth management products and services include investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and administration for individuals and their families. The company’s Hawthorn unit provides multi-generational family planning, including wealth strategy, investment management, private banking, tax and estate planning guidance, performance reporting and personal administration services to ultra high net worth families. Institutional asset management provides investment management, custody administration and retirement administration services. The business also offers the company proprietary mutual funds. Institutional clients include corporations, unions, municipalities, no

 

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Valuation PNC* Industry Range
Price/Earnings 12.4x
Price/Sales 3.1x
Price/Book 1.1x
Price/Cash Flow 11.2x
TEV/Sales NM Not Meaningful
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