|Bid||129.88 x 800|
|Ask||0.00 x 800|
|Day's Range||132.91 - 134.84|
|52 Week Range||108.45 - 147.23|
|Beta (3Y Monthly)||1.24|
|PE Ratio (TTM)||12.28|
|Earnings Date||Jul 17, 2019|
|Forward Dividend & Yield||3.80 (2.85%)|
|1y Target Est||142.14|
Chris Williams has been named senior vice president and market leader for PNC Wealth Management in Chicago. In his new position, Williams will be responsible for overseeing PNC’s wealth management efforts in Chicago and ensuring the local team deliver comprehensive wealth management solutions for high net worth individuals and their families.
Sustainable Impact investing is gaining traction not only with our clients, but also with the global investment community, observes John Eade, an analyst with Argus Research, a leading independent Wall Street research firm.
After all the bad feelings between UPMC and Highmark, all the legal action, and the tension and controversy leading up to what was to be the end of the consent decrees, Monday's announcement that a 10-year deal had been reached to provide access for all Highmark members to UPMC doctors and facilities came like a bolt out of the blue for many businesspeople who have been following the saga. "It was a surprise," said Jessica Brooks, president and CEO of the Pittsburgh Business Group on Health. "I'm actually shocked and still processing." The announcement of a 10-year "global" agreement between UPMC and Highmark by Pennsylvania Attorney General Josh Shapiro and Gov. Tom Wolf was barely an hour old.
Pittsburgh’s biggest bank could take its common stock quarterly dividend past $1 per share for the first time in its history. PNC Financial Services Group Inc. was among 18 of the nation’s largest financial institutions that successfully passed the first hurdle of annual stress tests as company-run results showed they all had enough capital to withstand a severe and prolonged economic downturn. CCAR assesses the capital planning processes and capital adequacy of large bank holding companies and includes an evaluation of their planned capital distributions, such as dividend payments and share repurchases.
(Bloomberg) -- The first round of the latest Federal Reserve stress tests, released last Friday after the market closed, was well received by Wall Street analysts, who said the results generally topped expectations.Bank of America Corp., PNC Financial Services Group and trust banks BNY Mellon Corp., Northern Trust Corp. and State Street Corp. were seen as relative winners, while the Fed’s harsh view of credit cards led to disappointment for Capital One Financial Corp.All eyes now turn to Thursday’s Comprehensive Capital Analysis and Review, known as CCAR, for banks’ capital plans.The biggest banks were mixed in early Monday trading, with BofA rising as much as 0.4%, Citigroup Inc. gaining as much as 0.2%, Goldman Sachs Group Inc. rallying as much as 1.2%, Wells Fargo & Co. dropping as much as 1% and JPMorgan Chase & Co. up 0.2%.Here’s a sample of the latest commentary:Morgan Stanley, Betsy GraseckAn “easier stress test is a positive for this week’s more important CCAR test,” Graseck wrote in a note. All 11 of Morgan Stanley’s covered banks passed, with Northern Trust, Goldman Sachs Group Inc., State Street, BNY Mellon, and Citigroup screening well versus Morgan Stanley’s capital return expectations. Capital One is most at risk.Citi, Keith HorowitzThe results offer a “green light for higher capital return for most banks,” Horowitz wrote in a note. He forecasts a total payout of 103% versus 97% last year, as banks look to be “on solid footing” on the Dodd-Frank Act stress test (DFAST) results.Citi views State Street Corp., PNC Financial Services Group, Northern Trust Corp., Bank of America Corp. and BNY Mellon Corp. as among those best positioned to exceed Street payouts. The results also imply that Capital One’s total payout will improve, though there’s risk buybacks will trail consensus estimates.Goldman, Richard RamsdenResults were “modestly better than expected,” as loss rates improved across trading and all loan categories, except for card and other consumer lending, Ramsden said in a note. Banks, with the possible exception of Capital One, look to be able to meet consensus estimated payouts.Goldman attributes increased card losses to “higher stress to unemployment relative to last year, as well as higher stress on subprime card due to a Fed methodology change.” Commercial real estate loss rates were most improved, though in-line with the 2016-2017 average loss rate. Trading losses fell across the banks to $80 billion from $105 billion, with State Street and BofA seeing the biggest improvement.Credit Suisse, Susan Roth Katzke“Manageable stress” for large-cap U.S. banks means that “more manageable stress capital buffers should follow,” Katzke wrote in a note. DFAST results indicate banks “have sufficient capacity for expected capital returns.”JPMorgan, Vivek JunejaThe results show an “increase in capital cushion at most of the large U.S. banks, and all of our banks remain well positioned to continue to return sizable amounts of capital.”Bloomberg Intelligence, Alison Williams, Neil Sipes“A solid pass across the largest U.S. banks, including units of foreign banks, in annual Dodd Frank Act stress tests should generally support payout plans, in our view. U.S. banks stressed capital ratios held above required minimums for participating banks. Stressed CET1 ratios were broadly better than in year-ago tests -- with the exceptions being Northern Trust and the U.S. unit of UBS.”Atlantic Equities, John HeagertyThe results “once again underline the robustness of the large U.S. banks’ balance sheets,” Heagerty wrote in a note. BofA “appears to do very well in 2019,” while Goldman also fared better than last year. “With these results, it’s difficult to see any objections arising to submitted capital returns.”KSP Research, Kevin St. PierreThe results were better than expected, with “widespread improvement in minimum CET1 ratios and sizeable cushions to allow for consensus capital return expectations,” St. Pierre wrote in a note.St. Pierre called Wells Fargo, BofA and PNC “relative winners,” as each saw “significant increases in CET1 minimums and large buffers to accommodate above-consensus capital return if they were aggressive in their ask.” Capital One was “the relative loser,” due to the Fed’s harsh view on cards.Recommends buying bank stocks, as they’re “a compelling value,” while cautioning that “investing around CCAR results has been ineffective.”Macquarie, David KonradU.S. banks under Macquarie coverage “performed well,” with higher minimum capital levels in every category except the leverage ratio for Wells Fargo. Lower loan loss rates and trading losses helped to improve capital ratios, while assumed growth rates in RWAs (risk-weighted assets) were lower. Trading and counter-party losses dropped, led by an “abnormally large” decline for BofA.Sees potential upside for Goldman Sachs and PNC with CCAR, while BofA and Wells Fargo “also shine.” Those two have the most excess capital above stressed requirements, and may report the strongest buybacks, with a total payout ratio of 146% for Wells and 112% for BofA.RBC, Gerard CassidyDFAST demonstrated that “under a supervisory severely adverse economic scenario ... the U.S. banking industry’s capital levels can withstand massive losses and still remain above well capitalized levels.”KBW, Brian KleinhanzlThe results were “less stressful than the prior year,” as banks “saw stress losses declining and modest improvements in net income before taxes.” As a result, only one bank, JPMorgan Chase & Co., “seems at risk of not meeting our capital return expectations.”KBW expects “fewer surprises in CCAR results on Thursday, which is a modest positive for the group overall.”Raymond James, David LongLong sees BNY Mellon and State Street as winners, “given the wide spread between their projections and the Fed’s.” He also sees BofA as a winner, as their results pave the way for them to increase the dividend payout closer to peers, and as “stock repurchases remain an attractive use of capital at current levels.”(Updates share trading in fourth paragraph.)To contact the reporter on this story: Felice Maranz in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
PITTSBURGH , June 21, 2019 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today the results of its annual company-run stress test conducted in accordance with regulations ...
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Practice Insight, LLC , a portfolio company of Eli Global, on its sale to eSolutions Inc.
If you want to see how intense the competition for retail customers is among the nation’s largest banks, just look to The Waterfront in Homestead. The Waterfront is where PNC Financial Services Group Inc. planted its prototype branch in April, a sort of lab to test concepts to be deployed throughout the hometown bank’s footprint. It is where JPMorgan Chase & Co. secured a location for one of its first six Pittsburgh branches.
San Francisco-based Ripple sees a deal to buy about 10 percent of MoneyGram for $30 million as a means to expand a key part of its operations.
PNC Financial Services Group Inc NYSE:PNCView full report here! Summary * Perception of the company's creditworthiness is positive * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for PNC with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting PNC. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding PNC are favorable, with net inflows of $8.54 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. PNC credit default swap spreads are near the lowest level of the last one year and indicate improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Is PNC Financial Services Group Inc. (NYSE:PNC) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for […]
Pittsburgh’s biggest bank is entering Fort Worth, Texas. PNC Financial Services Group plans to open its first Fort Worth branch at 2901 West 7th St., according to a filing with the office of the Comptroller of the Currency.
PITTSBURGH , June 13, 2019 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) expects to issue financial results for the second quarter at approximately 6:45 a.m. (ET) , Wednesday, July ...
Pittsburgh's biggest bank believes newcomers BofA and Chase will take market share in Pittsburgh as CEO talks strategy at Morgan Stanley conference.
HarbisonWalker International’s senior counsel doesn’t credit her career to Tom Cruise directly, but it was her experience working as a clearance coordinator for the actor’s shot-in-Pittsburgh film “Jack Reacher” that whet Emily Pile’s appetite for going in-house instead of joining a law firm. Pile served as a liaison with Paramount Pictures Corp., making sure that details of the “Jack Reacher” production were cleared from a legal perspective for seven months into early 2012. “I fell in love with corporate practice.” When Pile entered the University of Pittsburgh School of Law in 2013, she took courses “in the direction” of in-house counsel and interned at both UPMC and HarbisonWalker, accepting a job offer from the latter after graduation and passing the bar in 2016.
The suit alleges PNC Bank helped a South Florida man engage in unlawful activities connected to a debt relief scheme that scammed victims out of millions.
PITTSBURGH , June 5, 2019 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that it expects to issue quarterly earnings releases pre-market open and hold conference calls ...
If you want to know who really controls The PNC Financial Services Group, Inc. (NYSE:PNC), then you'll have to look at...
The U.S. Justice Department is aiming to resolve an investigation into multiple banks’ alleged manipulation of tax-credit bidding in the next couple months, according to people familiar with the matter. The agency is investigating whether Wells Fargo and other banks, including PNC Financial Services Group Inc., colluded with developers to lower bids for tax credits that are part of a federal program to encourage development of affordable housing. State housing agencies award federal tax credits to developers, who sell them to banks or other investors in the housing projects.
The publicly traded bank has quietly assembled a team of about 60 employees in the Phoenix region, but plans to start hiring business bankers right away now that its top market executive has been identified.
Stocks in regional banks are doing better than the S&P 500 so far this quarter. But the outlook is now decidedly mixed amid warnings in the bond market.
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised FRONTSTEPS, a portfolio company of CIP Capital, on its strategic investment in Caliber Software .