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The new PNC program elevates workplace banking with meaningful rewards and 
personalized financial support and education

, /PRNewswire/ -- PNC Bank today announced the launch of PNC Workplace Advantage, a new workplace banking program designed to help employers enhance their benefit offerings while supporting employees' financial confidence and overall well-being. Part of PNC's broader Financial Wellness Solutions platform, PNC Workplace Advantage delivers banking rewards, financial education and personalized guidance through a dedicated team of financial wellness experts, helping employers provide a more modern and valuable experience for their workforce.

Designed for companies with 100 or more employees, PNC Workplace Advantage helps employers elevate their benefits strategy without adding administrative complexity. The program integrates seamlessly into the workplace, enabling employers to offer a financial wellness benefit through a trusted financial institution. In addition to enhanced banking rewards, employees have access to personalized financial guidance from dedicated financial wellness professionals, flexible access to banking services available virtually or onsite and financial education through live seminars and on-demand digital resources designed to support real-life financial decisions.

"This launch represents an important step in the evolution of our financial wellness offerings," said Kaley Keeley, head of Financial Wellness Solutions at PNC. "PNC Workplace Advantage builds on the momentum we've created across our solutions, delivering a more cohesive and impactful way to help employers support the financial well-being of their employees. Today's workforce is looking for practical benefits they can actually use, not added complexity. PNC Workplace Advantage cuts through the noise with tools, educational resources and rewards that are relevant, easy to access and focused on what matters most in their financial lives."

Through PNC Workplace Advantage, employees who open a qualifying PNC checking account and set up a qualifying direct deposit method through their employer, will be invited to enroll in PNC TotalRewards Silver Tier. This is a benefit level that is typically only available to customers who maintain at least $25,000 or more in deposits and investments.

As part of PNC Financial Wellness Solutions, PNC Workplace Advantage complements a comprehensive suite of offerings, including PNC EarnedIt, education benefits, PNC BeneFit Plus Health Savings and other Benefit Spending Accounts, retirement services and financial education. Together, these solutions give employers the flexibility to build a benefits strategy that aligns with the diverse financial needs of their workforce.

"Financial well-being has become a critical factor in attracting, engaging and retaining talent, yet many organizations are still looking for ways to provide meaningful support without adding complexity," said Alina Crisi-Wetherell, head of Affiliated Banking at PNC. "With PNC Workplace Advantage, we're offering employers a smarter way to support their workforce, delivering real value to employees while helping organizations strengthen employee engagement and long-term loyalty."

PNC Workplace Advantage reflects the evolution of PNC's workplace banking experience, going beyond traditional banking benefits to offer support that meets employees where they are, both at work and in their daily lives.

The launch of PNC Workplace Advantage reflects PNC's broader commitment to helping employers address the financial well-being of their workforce, informed by ongoing research, including PNC's annual Financial Wellness in the Workplace Report launching later this month, as well as client webinars and educational events designed to help employers navigate today's diverse workforce. For more information about PNC Workplace Advantage and PNC Financial Wellness Solutions, visit pnc.com/WorkplaceAdvantageEmployer.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:

Darby Rowe
(717) 824-6314 
[email protected]

SOURCE PNC Bank

PITTSBURGH, Aug. 31, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that President Mark Wiedman and Executive Vice President and Chief Financial Officer Robert Q. Reilly will discuss business performance and strategy at noon (ET), Monday, Sept.

Key Takeaways WFC's NII, balance-sheet growth and 17.7% ROTCE highlight improving profitability.PNC is delivering stronger NII and earnings growth, supported by loan growth and the FirstBank acquisition.WFC trades at a lower forward P/E, while PNC offers a higher dividend yield. Wells Fargo & Company (WFC - Free Report) and The PNC Financial Services Group, Inc. (PNC - Free Report) are two prominent U.S. banking institutions offering a broad range of financial services to consumers, businesses and institutional clients. Both banks benefit from diversified business models spanning retail and commercial banking, lending, wealth management and capital markets-related services. However, differences in their scale, geographic footprint, business mix and growth strategies could influence their financial performance and long-term prospects.

Against this backdrop, investors naturally ask: Which bank, WFC or PNC, is better positioned for growth and offers greater upside potential? Let us take a closer look at their fundamentals to find out.

The Case for WFCWells Fargo has been expanding across multiple business lines since the Fed lifted the asset cap that had limited its growth since 2018. With this, the company can boost deposits, grow its loan portfolio and broaden its securities holdings, supporting NII growth in the future. Management expects NII to be $50 billion in 2026, up from $47.5 billion in 2025, driven by balance-sheet growth, a favorable loan and deposit mix, and continued fixed-asset repricing.

Wells Fargo’s multi-year simplification strategy is another key growth driver. Under CEO Charlie Scharf, who has led the bank since 2019, the bank has been exiting non-core and lower-return businesses to focus resources on higher-return areas. As part of this effort, WFC sold its rail lease portfolio to a joint venture between GATX Corporation and Brookfield Infrastructure Partners in January 2026. These divestitures are helping streamline operations and improve capital efficiency, while allowing WFC to concentrate on its core businesses.

The company has been taking a strategic approach to its branch network and total headcount, reducing branch count 1.3% year over year to 4,079 and headcount 7.2% to nearly 197,500. Although non-interest expenses increased 2.6% year over year in the first half, continued branch optimization, workforce reductions and technology investments are expected to generate furtherefficiencies. Together, these initiatives are supporting profitability, with return on tangible common equity (ROTCE) reaching 17.7% in the second quarter of 2026, within management’s sustainable medium-term target of 17%-18%.

The Case for PNCSimilar to WFC, PNC Financialis also benefiting from favorable NII trends, supported by solid commercial loan growth and a favorable deposit mix. The bank’s NII increased 14.7% year over year in the first half of 2026, as these factors helped to offset lower loan yields. Continued repricing of fixed-rate assets, robust loan growth and stabilizing funding costs are expected to support spread income. Reflecting this momentum, management raised its 2026 NII growth guidance to 15-15.5% from its previous expectation of 14.5%.

Further, the bank is set to expand its branch network across the United States. PNC plans to invest nearly $2 billion to open more than 300 branches across nearly 20 markets and renovate its branch network by 2029, and hire more than 2,000 employees to support growth and customer service efforts by 2030. By broadening its reach in high-growth regions, the company aims to establish itself as a leading financial institution that effectively serves the diverse needs of consumers and businesses of all sizes.

PNC is pursuing an expansion-led strategy through acquisitions, partnerships and branch investments. The FirstBank acquisition has significantly strengthened its presence in Colorado and Arizona, while earlier acquisitions, including Linga and Aqueduct Capital Group, along with partnerships with Plaid and TCW, have broadened PNC’s capabilities in payments, fund placement, data sharing and private credit.

However, this expansion is also increasing the bank’s cost base. Its non-interest expenses increased 16.1% year over year in the first half of 2026, due to investments in technology, branch expansion and client infrastructure. Management expects adjusted non-interest expenses to rise 8.5% year over year in 2026. Although these investments are intended to support long-term expansion, elevated expenses and FirstBank integration costs could weigh on near-term profitability.

How Do Estimates Compare for WFC & PNC?The Zacks Consensus Estimate for WFC’s 2026 and 2027 revenues suggests year-over-year increases of 5.9% and 5.0%, respectively. Meanwhile, the consensus estimate for earnings implies growth of 15.4% in 2026 and 9.5% in 2027. Over the past month, earnings estimates for both 2026 and 2027 have been revised upward.

Estimates Revision Trend
Image Source: Zacks Investment Research

The consensus mark for PNC’s 2026 and 2027 revenues indicates year-over-year increases of 13.6% and 4.8%, respectively. Meanwhile, the consensus estimate for earnings implies growth of 16.0% and 10.8% for 2026 and 2027, respectively. The 2026 earnings estimates have remained unchanged, while the 2027 estimates have been revised upward over the past 30 days.

Estimates Revision Trend
Image Source: Zacks Investment Research

WFC & PNC: Price Performance, Valuation & Other ComparisonsOver the past three months, shares of Wells Fargo and PNC Financial have rallied 11.4% and 10.6%, respectively, underperforming the industry’s growth of 14.9%.

Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, WFC is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 11.01X, while PNC is trading at 11.85X. Both stocks are trading below the industry average of 13.97X. However, PNC appears relatively more expensive than WFC.

Price-to-Earnings F12M
Image Source: Zacks Investment Research

Meanwhile, both WFC and PNC continue to return capital to shareholders. Post-clearing the Fed’s 2026 stress test, WFC raised its common stock dividend by 11% to 50 cents per share, while PNC increased its quarterly common stock dividend by 18% to $2 per share. WFC offers a dividend yield of 2.36% compared with 3.28% for PNC, giving PNC an edge in terms of shareholder returns.

Dividend Yield
Image Source: Zacks Investment Research

WFC and PNC: Which Offers More Value?Both Wells Fargo and PNC Financial present compelling investment cases, but their growth strategies and valuation profiles differ. PNC stands out with stronger NII and earnings growth, supported by strong loan expansion, the FirstBank acquisition and continued investments in its geographic footprint. However, this growth comes with higher expenses and integration costs, which could weigh on near-term profitability.

WFC, meanwhile, offers a more balanced investment case, combining improving balance-sheet growth with cost discipline and a multi-year simplification strategy. Its lower forward P/E multiple also provides a valuation advantage over PNC, while its strong ROTCE and continued capital returns add to its appeal.

Although PNC offers a higher dividend yield, WFC’s lower valuation, improving operating efficiency and focus on higher-return businesses, along with upward estimate revision, make it more attractive for investors looking for stable long-term growth.  

Both WFC and PNC currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Freestone Grove Partners LP acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,984 shares of the financial services provider’s stock, valued at approximately $1,720,000.

Several other institutional investors have also added to or reduced their stakes in PNC. Cvfg LLC raised its stake in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares during the period. Trust Asset Management LLC boosted its position in shares of The PNC Financial Services Group by 1.0% during the second quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 43 shares during the period. Baron Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 3.0% during the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after buying an additional 46 shares during the period. Atom Investors LP boosted its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after buying an additional 46 shares during the period. Finally, Flavin Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after buying an additional 48 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets PNC has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Citigroup upped their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective on the stock. in a report on Thursday, July 23rd. Finally, Stephens boosted their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Read Our Latest Research Report on PNC Insider Activity In related news, EVP Stacy M. Juchno sold 3,354 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,654 shares of company stock valued at $1,627,011. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance NYSE:PNC opened at $242.24 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The company has a market cap of $96.64 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50-day simple moving average is $249.40 and its 200 day simple moving average is $229.61.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.46 by $0.39. The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.85 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.03%.

(Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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EP Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,159 shares of the financial services provider’s stock, valued at approximately $4,225,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares during the period. Treasurer of the State of North Carolina increased its position in shares of The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter worth approximately $482,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets Several equities research analysts recently commented on the stock. Citigroup upped their price target on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird boosted their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Oppenheimer increased their target price on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.73.

Get Our Latest Report on The PNC Financial Services Group Insider Buying and Selling at The PNC Financial Services Group In other The PNC Financial Services Group news, EVP Stacy M. Juchno sold 3,354 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,654 shares of company stock worth $11,552,661 in the last ninety days. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance Shares of NYSE PNC opened at $243.05 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.96. The business’s 50-day moving average price is $248.28 and its two-hundred day moving average price is $229.34. The company has a market capitalization of $96.96 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. Analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

The PNC Financial Services Group Company Profile (Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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B. Metzler seel. Sohn and Co. AG purchased a new stake in The PNC Financial Services Group, Inc (NYSE: PNC) in the undefined quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 46,533 shares of the financial services provider's stock, valued at approximately $11,457,000. A number

Key Takeaways PNC hit a new 52-week high as loan growth, revenue gains and the FirstBank deal boosted momentum.PNC raised its 2026 loan growth and NII guidance, signaling stronger balance-sheet and earnings growth.PNC's dividend hike, share buybacks and strong liquidity support continued capital returns to shareholders. The PNC Financial Services Group, Inc. (PNC - Free Report) shares touched a new 52-week high of $258.90 during yesterday’s trading session before closing at $254.50, below the session’s peak.

Over the past three months, shares of PNC Financial have rallied 19.4%, compared with the industry’s gain of 19%. Additionally, its close peers, Citigroup Inc. (C - Free Report) and Bank of America (BAC - Free Report) , have gained 15.5% and 26.0%, respectively.

Price Performance
Image Source: Zacks Investment Research

Does PNC stock have more upside left despite recently touching its 52-week high? Let us find out.

Factors Driving PNC Financial’s StockStrategic Initiatives to Drive Growth: The company’s acquisition and partnership strategy is expanding its capabilities, geographic reach and customer base. It completed the FirstBank acquisition in January 2026 and converted approximately 780,000 customers, more than 1,600 employees and all 95 branches in June 2026. The transaction added $26 billion of assets, $16 billion of loans and $23 billion of deposits at closing. It more than tripled PNC’s branch network in Colorado and expanded its Arizona presence to more than 70 locations. Management continues to expect the deal to add nearly $1 per share to earnings by 2027. The conversion gives former FirstBank customers access to PNC’s broader banking and wealth management offerings, creating opportunities to deepen relationships and cross-sell across the acquired base.

Earlier acquisitions and partnerships have also strengthened PNC’s broader franchise. The Aqueduct Capital Group acquisition enhanced fund placement capabilities at Harris Williams, while partnerships with Plaid and TCW expanded data-sharing and private-credit capabilities. Together, these initiatives are diversifying revenue sources, extending PNC’s national footprint and strengthening its ability to serve consumer, corporate and institutional clients.

Healthy Balance-Sheet Growth: PNC Financial’s balance sheet has continued to expand, supported by steady loan growth, a broad deposit franchise and strategic acquisitions. Its total loans and deposits recorded six-year compound annual growth rates (CAGRs) of 5.5% and 7.3%, respectively, through 2025, with both increasing year over year in the first half of 2026. The FirstBank acquisition added nearly $16 billion in loans and $23 billion in deposits, while the October 2023 Signature Bank transaction added $16 billion in loan commitments.

With interest rates below prior peaks, loan demand is expected to remain supportive. Management raised its 2026 average loan growth outlook to 12.5% from 11% previously and expects deposits to grow in the second half of the year, helping replace part of the wholesale funding added in the second quarter. Strong growth in interest-bearing commercial and operational deposits is also expected to support the deposit base. Thus, continued client acquisition, deeper customer relationships and loan demand are likely to drive further balance-sheet expansion.

Revenue Growth: Driven by higher net interest income (NII) and non-interest income, the company’s revenues have witnessed a six-year CAGR of 4.4% through 2025, with growth continuing in the first half of 2026. NII recorded a six-year CAGR of 6.3% through 2025, supported by commercial loan growth, a favorable deposit mix and lower funding costs. The company’s NII also increased in the first half of 2026, while continued fixed-rate asset repricing, solid loan growth and stabilizing funding costs are expected to further support growth. Reflecting this, management raised its 2026 NII growth guidance to 15-15.5% from 14.5% previously.

The company’s non-interest income also recorded a six-year CAGR of 1.7% through 2025 and increased in the first half of 2026, supported by capital markets, treasury management, card services and asset management fees. Record M&A activity, treasury-management growth and higher equity markets are driving fee income, while the FirstBank acquisition is expanding PNC’s customer base and fee-generating opportunities. Non-interest income is expected to increase 9% year over year in 2026. Consequently, total revenues are anticipated to rise 13% in 2026. Thus, continued NII growth, strengthening fee income and diversified revenue streams are expected to support PNC’s top-line growth.

The Zacks Consensus Estimate for PNC’s 2026 and 2027 revenues is pegged at $26.4 billion and $27.6 billion, indicating year-over-year growth of 13.6% and 4.8%, respectively.

Revenue Estimates
Image Source: Zacks Investment Research

Strong Liquidity Supports Capital Distribution: PNC Financial maintains a solid liquidity position. As of June 30, 2026, cash and due from banks plus interest-earning deposits with banks totaled $28.7 billion. The company also held $149.5 billion in investment securities against $449.8 billion in deposits, while long-term debt stood at $85.7 billion.

The strong liquidity position further supports PNC’s ability to return capital to shareholders. The company has a 100-million-share repurchase authorization and returned $1.3 billion to shareholders in the second quarter, including $610 million in share repurchases. Management expects third-quarter repurchases to approximate the second-quarter level.

Apart from buybacks, PNC Financial has consistently increased its dividend. Following the completion of the 2026 stress test, the company raised its quarterly common stock dividend by 18% to $2 per share. PNC has raised its dividend five times over the past five years, resulting in a five-year annualized dividend growth rate of 6%. Its current dividend yield of 3.14% also compares favorably with the industry average of 1.68%. Meanwhile, the dividend yields of its peers, Citigroup and Bank of America, are 1.94% and 1.75%, respectively. Overall, PNC’s strong liquidity position supports sustainable capital distributions.

Dividend Yield
Image Source: Zacks Investment Research

Expanding Branch and Digital Network: PNC is investing in its branch network and digital capabilities to strengthen customer acquisition and expand its presence in high-growth U.S. markets. In November 2025, the company increased its branch expansion program from $1.5 billion to nearly $2 billion, with plans to open more than 300 branches across nearly 20 markets, renovate its entire branch network by 2029 and hire more than 2,000 employees by 2030.

The company is also advancing its digital and technology capabilities, including the launch of a mobile banking platform and continued investments in client-facing and infrastructure technology. The FirstBank conversion expanded PNC’s network to approximately 2,400 locations and strengthened its presence in Colorado and Arizona. These initiatives are expected to support long-term customer growth, deepen relationships and strengthen PNC’s position as one of the largest U.S. retail banks.

PNC's Estimates and Valuation AnalysisThe Zacks Consensus Estimate for PNC’ earnings indicates a 16.0% and 10.8% rise for 2026 and 2027, respectively.

Over the past month, the Zacks Consensus Estimate for both 2026 and 2027 earnings has been revised upward, reflecting analysts’ growing confidence in the company’s earnings growth prospects.

Estimate Revision Trend
Image Source: Zacks Investment Research

In terms of valuation, PNC stock appears inexpensive relative to the industry. The company is currently trading at a 12-month trailing price-to-earnings (P/E) ratio of 12.38X, which is lower than the industry’s 14.24X.

Price-to-Earnings F12 M
Image Source: Zacks Investment Research

Meanwhile, Citigroup holds a P/E ratio of 11.26X, while Bank of America’s P/E ratio stands at 12.64X.

Parting Thoughts on PNC FinancialPNC Financial enters the remainder of 2026 with solid earnings momentum, supported by NII growth, stronger fee income, balance-sheet expansion and the benefits of the FirstBank acquisition. Its focus on branch expansion, digital capabilities and strategic partnerships further strengthens its long-term growth prospects. Meanwhile, a healthy liquidity position and strong capital returns remain additional positives for shareholders.

However, investors should remain mindful of rising non-interest expenses and FirstBank integration costs, which could limit near-term margin expansion. PNC’s significant exposure to commercial and commercial real estate lending also leaves it vulnerable to potential deterioration in credit quality, particularly amid continued weakness in the office property market.

Given this backdrop, investors should avoid rushing into PNC stock at current levels. Instead, they may prefer to wait for a more attractive entry point once there is greater clarity on expense trends and credit quality. Existing shareholders may continue to hold the stock, as its strong franchise, stable capital returns and diversified growth initiatives are likely to support performance over the long run.

The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

BlackRock Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,172,263 shares of the financial services provider’s stock, valued at approximately $7,921,455,000. BlackRock Inc. owned about 8.01% of The PNC Financial Services Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group during the fourth quarter worth $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC increased its stake in shares of The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance Shares of NYSE PNC opened at $254.65 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The firm has a market cap of $101.59 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $258.96. The business’s 50 day moving average is $247.28 and its 200-day moving average is $228.73.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year. The PNC Financial Services Group Increases Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Analyst Ratings Changes Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Argus upped their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Oppenheimer raised their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Truist Financial boosted their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $265.73.

Check Out Our Latest Analysis on PNC

Insider Buying and Selling In other news, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,654 shares of company stock worth $11,552,661 over the last three months. Company insiders own 0.38% of the company’s stock.

(Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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PNC's Chief Investment Officer Amanda Agati is on Bloomberg This Weekend with hosts Joe Mathieu and Carol Massar and says that strong earnings and economic fundamentals continue to support US stocks, even as elevated Treasury yields and midterm uncertainty threaten to bring more volatility. -------- More on Bloomberg Television and Markets Like this video?

Key Takeaways PNC raised its 2026 NII growth outlook to 15-15.5% on strong Q2 momentum.PNC lifted its 2026 average loan growth forecast to 12.5%, led by commercial lending.A better deposit mix and higher-yielding securities are supporting PNC's spread income outlook. The PNC Financial Services Group, Inc.’s (PNC - Free Report) net interest income (NII) outlook for 2026 has strengthened, supported by robust loan growth, an improving deposit mix and continued repricing of fixed-rate assets. Following the solid second-quarter results, management raised its full-year NII growth guidance to 15-15.5% from the earlier mentioned 14.5%, based on the 2025 NII baseline of $14.41 billion.

PNC’s second-quarter performance highlights the momentum behind the improved outlook. NII reached $4.11 billion, increasing 16% year over year. The net interest margin (NIM) also moved up to 2.96% from 2.95% in the preceding quarter and 2.80% a year earlier.

A key driver is strong loan growth, particularly in commercial and industrial lending. Average loans rose 4% sequentially and 13% year over year to $363.2 billion in the second quarter. Management consequently raised its 2026 average loan growth forecast to 12.5% from 11%.

Deposit trends are another tailwind. While total average deposits were essentially stable sequentially, non-interest-bearing deposits increased 4%, while the rate paid on interest-bearing deposits declined five basis points. This favorable shift in funding mix is helping offset pressure from lower loan yields and supporting spread income. PNC should also benefit from fixed-rate asset repricing. During the second quarter, the company sold roughly $4 billion of securities and reinvested the proceeds into securities yielding about 120 basis points more, enhancing the prospective earnings contribution from the investment portfolio.

The FirstBank acquisition has expanded PNC’s loan and deposit base. The transaction added roughly $16 billion in loans and $23 billion in deposits at closing, providing additional scale and opportunities to deepen customer relationships.

Near-term momentum remains encouraging, with management expecting third-quarter NII to increase 3-3.5% sequentially. Overall, robust commercial lending, a healthier funding mix and asset repricing appear well-positioned to keep PNC’s NII trajectory positive through the remainder of 2026, though elevated expenses and funding needs remain factors to watch.

PNC’s Peers 2026 ExpectationsWells Fargo (WFC - Free Report) and Citigroup (C - Free Report) also expect their NII to grow in 2026.

Wells Fargo expects NII to be $50 billion. NII excluding Markets is projected to be $48 billion, driven by balance-sheet growth, a favorable loan and deposit mix and continued fixed-asset repricing, partially offset by the impacts of expected rate cuts. 

Citigroup expects NII (excluding Markets) to increase 5-6% on a year-over-year basis in 2026, supported by stabilizing deposit costs and disciplined balance-sheet management. The outlook reflects the bank’s efforts to benefit from a more favorable rate and funding environment while continuing to reshape its business toward higher-quality growth.

PNC Financial Price Performance & Zacks RankShares of PNC have surged 31.4% over the past year compared with the industry’s growth of 26.3%.

Price Performance

Image Source: Zacks Investment Research

Currently, PNC Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has extended the maturity date of the company’s $238.62 million revolving credit facility led by PNC Bank, N.A., to August 2031. The amended facility includes enhancements that provide working capital flexibility, liquidity and other favorable terms.

“The extension of the maturity date and enhancements recognize the company’s milestones and solid position within the automotive aftermarket and complement management’s commitment to strategic growth and profitability,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

“Equally important, the credit facility extension reinforces our strong relationship with PNC Bank and our lending syndicate,” Joffe said.

He noted the company’s enhanced industry position, particularly with respect to its brand-related products, is expected to drive growth. He highlighted the company’s expansion of its brand portfolio, including the recent purchase of intellectual and digital property associated with the Centric Parts brake brands and its Quality-Built™ brand, as important catalysts to support continued strategic growth.

“This extension reflects PNC’s confidence in Motorcar Parts of America, its leadership team and its strategic direction,” said Peter Mardaga, head of PNC Business Credit. “We value our longstanding relationship with the company and are proud to provide financing solutions that support its continued growth, liquidity needs and commitment to creating value for its customers and stakeholders.”

About PNC Bank

PNC Bank, National Association is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

About Motorcar Parts of America, Inc.

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake master cylinders, brake power boosters, diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Canada, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2026 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

More News From Motorcar Parts of America, Inc.

PNC remains on track to open more than 55 new branches this year

, /PRNewswire/ -- PNC Bank today announced the opening of its 50th new location, an important milestone in the company's coast-to-coast build-out of more than 300 branches across key U.S. markets. This milestone reflects the strong momentum behind the national bank's multi-year strategy to invest $2 billion in its branch network, including building locations in 19 markets as well as renovating its existing network across the U.S. PNC remains on track to open 55 new branches in 2026, the largest single-year branch expansion effort in its history.

The Hialeah branch in Hialeah, Florida, which opened Aug. 3, 2026, marks PNC's 50th new branch opening and represents consistent progress against the bank's long-term expansion commitments. The recently opened branches span strategic growth markets across the country, including Dallas, Miami, Houston and Denver.

"Our branch network is the heartbeat of our retail business, offering hospitable and relationship-based advice and assistance to the millions of customers who visit us each month," said Alex Overstrom, head of Retail Banking at PNC. "Reaching our 50th branch opening is an important milestone in what is ultimately a journey to create a ubiquitous network across the United States."

PNC's expansion strategy began with a nearly $1 billion commitment announced in February 2024, which included plans to open more than 100 new branches and renovate more than 1,200 existing locations nationwide through 2028. Building on that foundation, PNC expanded the initiative in November 2024 with an additional $500 million investment, increasing its planned branch openings to more than 200 across 12 cities. Most recently, in November 2025, PNC increased its goal to add a total of 300 new branches by 2030, raising its total branch investment to approximately $2 billion. The announcement also expanded the company's market footprint and reaffirmed its commitment to fully renovate its entire branch network.

PNC recognizes that physical branches continue to play an essential role in fostering trusted relationships, offering personalized financial guidance and supporting complex financial needs. Through its growing network of new and modernized locations, PNC is giving customers greater choice in how they bank, whether online, through the new mobile app or in person, while ensuring that customers have seamless access to the expertise, products and resources they need to achieve their financial goals.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:
Darby Rowe
(717) 824-6314
[email protected]

SOURCE PNC Bank

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Picture a 63-year-old who spent decades at PNC Financial Services Group (NYSE: PNC | PNC Price Prediction) and still holds company stock in a taxable brokerage account. He started Social Security early, opened the mail this month, and saw the quarterly dividend jump from $1.70 to $2.00 per share. His first reaction was worry that the bigger payout might trip Social Security’s earnings limit and shrink his monthly check.

That worry is misplaced. The benefit stays put, but a tax wrinkle hides underneath the good news.

What the Earnings Test Actually Counts Social Security’s retirement earnings test counts only wages from a job and net earnings from self-employment. Investment income sits in a different bucket. Dividends, interest, capital gains, most rental income, pension payments, and IRA withdrawals do not count toward the limit that reduces early-claimer benefits. The extra $0.30 per share arriving with the August 5, 2026 payment cannot cost him a dollar of his monthly benefit.

Someone holding 500 shares was collecting $3,400 a year at the old quarterly rate and will collect $4,000 if the new rate holds for four quarters. That is an extra $600 a year, welcome money for an income investor. PNC raised its dividend 18%, comfortably ahead of the 2.8% Social Security cost-of-living adjustment (COLA) for 2026. Unlike the COLA, however, a corporate dividend can later be frozen or cut.

The Real Catch: Provisional Income Federal tax rules use a separate figure, commonly called combined or provisional income, to determine how much of a Social Security benefit becomes taxable. It includes adjusted gross income, tax-exempt interest, and half of Social Security benefits. Dividends land squarely in that calculation.

The thresholds have not moved in decades. For a single filer, provisional income between $25,000 and $34,000 can make up to half of benefits taxable. Above $34,000, up to 85% can become taxable. For joint filers, the lines sit at $32,000 and $44,000. A retiree near one of those thresholds can receive every dollar of the larger dividend while watching more of the Social Security benefit migrate onto the tax return.

Consider a single retiree with provisional income of $33,000. Another $1,500 in dividends would push him across the $34,000 threshold and into the range where up to 85% of benefits can be taxable. Assuming the shares meet the holding-period requirements, the qualified dividend receives preferential capital-gains tax rates. Any newly taxable Social Security, however, is taxed as ordinary income. That ripple effect is the hidden cost.

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The Medicare Ripple Two Years Later Dividend income also enters the Income-Related Monthly Adjustment Amount (IRMAA) calculation, the surcharge that raises Medicare Part B and Part D premiums for higher-income beneficiaries. Medicare generally looks back two years at modified adjusted gross income.

For this 63-year-old, taxable dividends received in 2026 could help determine his 2028 Medicare premiums just as he reaches Medicare age. A larger dividend stream, stacked with IRA withdrawals, Roth conversions, or capital gains, can push him into a higher IRMAA bracket. Crossing a bracket by even a dollar triggers the full step-up.

How the Pieces Fit Together For a retiree living on Social Security plus taxable dividends, coordination matters more than any single line item. Traditional IRA withdrawals, Roth conversions, realized gains, and taxable dividends all feed into the income calculations. Stacking a Roth conversion and a large brokerage gain onto an already richer dividend year can turn welcome income into an expensive pileup.

PNC CEO William Demchak said the raise reflected the bank’s financial strength and confidence in its strategy. For a shareholder drawing Social Security, that is good news. It simply gives the tax return more work to do.

What to Think Through Two things matter before the tax year closes. First, confirm where the shares are held. A dividend paid inside an IRA or 401(k) does not enter these calculations when paid; a dividend in a taxable brokerage account does.

Second, watch both provisional income and the MAGI figure Medicare will generally read two years later. The dividend increase does not touch the Social Security benefit directly, so earnings-test anxiety is no reason to sell. But running the higher income through a tax projection before December can reveal a Social Security tax threshold or IRMAA bracket before you cross it.

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Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Headquartered in Pittsburgh, The PNC Financial Services Group, Inc (PNC - Free Report) is a Finance stock that has seen a price change of 19.6% so far this year. Currently paying a dividend of $2.00 per share, the company has a dividend yield of 3.2%. In comparison, the Financial - Investment Bank industry's yield is 1.15%, while the S&P 500's yield is 1.32%.

Looking at dividend growth, the company's current annualized dividend of $8.00 is up 21.2% from last year. Over the last 5 years, The PNC Financial Services Group, Inc has increased its dividend 3 times on a year-over-year basis for an average annual increase of 8.49%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. The PNC Financial Services Group's current payout ratio is 37%, meaning it paid out 37% of its trailing 12-month EPS as dividend.

PNC is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $19.25 per share, which represents a year-over-year growth rate of 16.03%.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.

High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, PNC is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

The PNC Financial Services Group, Inc (PNC - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PNC broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.

The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

Shares of PNC have been moving higher over the past four weeks, up 5.3%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that PNC could be poised for a continued surge.

The bullish case only gets stronger once investors take into account PNC's positive earnings estimate revisions. There have been 6 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Investors should think about putting PNC on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

Posted by Defense World Staff on Jul 19th, 2026

Allspring Global Investments Holdings LLC boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 98.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 297,897 shares of the financial services provider’s stock after acquiring an additional 147,521 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of The PNC Financial Services Group worth $62,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group during the third quarter valued at about $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $29,000. Financial Life Planners purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group News Roundup Here are the key news stories impacting The PNC Financial Services Group this week:

Positive Sentiment: PNC reported strong second-quarter results, topping forecasts on earnings and revenue as capital markets strength helped drive growth. The company also highlighted a record dividend and improving business momentum. PNC Financial tops second-quarter forecasts as capital markets business drives growth Positive Sentiment: Management raised its 2026 outlook, forecasting about 12.5% loan growth, net interest income growth of 15% to 15.5%, and a net interest margin above 3% by year-end, which suggests improving fundamentals ahead. PNC forecasts 2026 loan growth of ~12.5% and net interest income up 15%-15.5% Positive Sentiment: Multiple analysts lifted price targets on PNC after the earnings release, including Truist, Argus, RBC, Oppenheimer, Wells Fargo, Barclays, Stephens, and Baird, with several firms also maintaining bullish ratings such as outperform and overweight. Analyst price target updates Neutral Sentiment: Truist raised its target to $264 but kept a hold rating, implying the stock may be fairly valued after the recent run-up. PNC price target raised to $264 at Truist Financial Neutral Sentiment: One recent commentary piece argued that PNC looks “fairly valued,” which may temper enthusiasm even after the earnings beat and analyst upgrades. PNC Financial: Likely Fairly Valued Negative Sentiment: PNC also noted that costs are expected to rise alongside revenue, which could pressure margins if expense growth outpaces top-line gains. PNC is latest bank to say costs will rise alongside revenue The PNC Financial Services Group Stock Performance PNC stock opened at $252.88 on Friday. The stock’s 50 day simple moving average is $233.18 and its 200 day simple moving average is $223.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $256.49. The stock has a market capitalization of $101.55 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.85 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 19.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is currently 37.42%.

Wall Street Analyst Weigh In PNC has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Barclays increased their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial raised their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Finally, UBS Group upped their price target on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.97.

Check Out Our Latest Research Report on The PNC Financial Services Group

The PNC Financial Services Group Profile (Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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The company’s tangible book value (TBV) grew during the quarter, positioning it for enhanced organic growth, according to RBC Capital Markets.

• PNC Financial Services stock is challenging resistance. What’s driving PNC to record levels?

The PNC Financial Services Group Analyst: Analyst Gerard Cassidy maintained an Outperform rating, while raising the price target from $235 to $273.

The PNC Financial Services Group Thesis: The company reported record revenues, net interest income (NII) and fee income for the quarter, Cassidy said in the note.

Check out other analyst stock ratings.

He highlighted the following from PNC Financial Services Group’s results:

The company has enhanced its organic growth with accretive tangible book value acquisitions, the analyst stated.

"Long-term shareholder returns are driven by TBV per share and dividend per share growth, in our opinion," he further wrote.

PNC Price Action: Shares of PNC Financial Services Group had risen by 0.31% to $254.87 at the time of publication on Thursday.

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The PNC Financial Services Group, Inc. (PNC) Q2 2026 Earnings Call July 15, 2026 10:00 AM EDT

Company Participants

Bryan Gill - EVP, Director of Investor Relations
William Demchak - Chairman & CEO
Robert Reilly - Executive VP & CFO

Conference Call Participants

John McDonald - Truist Securities, Inc., Research Division
John Pancari - Evercore ISI Institutional Equities, Research Division
Ebrahim Poonawala - BofA Securities, Research Division
L. Erika Penala - UBS Investment Bank, Research Division
Michael Mayo - Wells Fargo Securities, LLC, Research Division
Manan Gosalia - Morgan Stanley, Research Division
Matthew O'Connor - Deutsche Bank AG, Research Division
Gerard Cassidy - RBC Capital Markets, Research Division
Kenneth Usdin - Bernstein Autonomous LLP
David Chiaverini - Jefferies LLC, Research Division
Saul Martinez - HSBC Global Investment Research
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division

Presentation

Operator

Greetings, and welcome to The PNC Financial Services Group Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Bryan Gill. Thank you, Bryan. You may now begin.

Bryan Gill
EVP, Director of Investor Relations

Well, good morning, and welcome to today's conference call for The PNC Financial Services Group. I am Bryan Gill, the Director of Investor Relations for PNC. And participating on this call are PNC's Chairman and CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.

Today's presentation contains forward-looking information. Cautionary statements about this information as well as reconciliations of non-GAAP measures are included in today's earnings release materials as well as our SEC filings and other investor materials. These are all available on our corporate website, pnc.com, under Investor Relations. These statements speak only as of July 15, 2026, and PNC undertakes no obligation to update them.

Now I'd like to turn the call over to Bill.

William Demchak
Chairman & CEO

Key Takeaways PNC posted Q2 2026 adjusted EPS of $4.85, beating estimates, but shares fell nearly 3.8% in early trading.PNC benefited from higher NII, stronger fee income, an improved NIM and solid loan growth. NII rose 15.5% and fee income climbed 31.4% YoY, while deposits declined 1.7% sequentially. The PNC Financial Services Group, Inc. (PNC - Free Report) has delivered adjusted earnings per share of $4.85 in the second quarter of 2026, beating the Zacks Consensus Estimate of $4.51 and up from $3.85 a year ago. 

Results reflected higher net interest income (NII), strong fee income growth, an improvement in the net interest margin (NIM) and solid loan growth. However, higher expenses and a decline in the deposit balance were headwinds. Given the concern, PNC shares were down nearly 3.8% in the early trading session. A full day’s trading session will depict a clearer picture. 

Results excluded FirstBank integration costs and certain significant items. After considering those, net income (GAAP basis) was $2.06 billion, which rose 25.1% from the year-ago quarter. 

PNC Financial’s Q2 Revenues & Expenses Rise Quarterly revenues were $6.88 billion, up 21.4% year over year. The top line surpassed the Zacks Consensus Estimate of $6.44 billion. 

NII rose to $4.1 billion in the quarter, increasing 15.5% from the year-ago period. The company’s NIM improved to 2.96%, expanding 16 basis points year over year, as the bank benefited from commercial loan growth, higher non-interest-bearing deposit balances, the FirstBank acquisition and lower funding costs. 

Non-interest income totaled $2.8 billion, up 31.4% from the second quarter of 2025, reflecting improvement across all fee categories. Within fee income lines, capital markets and advisory revenues surged 79.8% from last year, while asset management and brokerage revenues, card and cash management revenues, lending and deposit services revenues, and residential and commercial mortgage revenues also increased. 

Noninterest expenses increased to $4.1 billion, up 21.1% year over year. The rise reflected increased business activity, higher marketing expenses, continued investments to support growth and FirstBank operating expenses. PNC incurred $127 million of integration costs (pre-tax) in the second quarter of 2026 related to the FirstBank acquisition. Expenses also included a $140-million contribution to the PNC Foundation. 

The efficiency ratio was 60%, unchanged from the prior-year quarter. 

PNC's Loan Balance Rises, Deposits Decline Total loans increased 1.9% sequentially to $367.9 billion, driven by commercial loan growth and strong new production. Total deposits declined 1.7% sequentially to $449.8 billion. 

PNC’s Credit Quality Total non-performing loans were $2.03 billion, down 3.8% from the year-ago quarter. 

Net loan charge-offs were $226 million, up 14.1% from the year-ago quarter. The net charge-offs to average loans ratio was 0.25%, unchanged from the prior-year quarter. 

The company reported a provision for credit losses of $191 million in the second quarter, down 24.8% from the year-ago quarter. The allowance for credit losses increased to $5.5 billion from $5.3 billion as of June 30, 2025. The allowance for credit losses to total loans ratio was 1.48% compared with 1.62% in the year-ago quarter. 

PNC’s Capital Position & Profitability Ratios As of June 30, 2026, the Basel III common equity tier 1 capital ratio was 9.9% compared with 10.5% as of June 30, 2025. 

Return on average assets and average common shareholders’ equity were 1.34% and 13.61%, respectively, compared with 1.17% and 12.20% in the year-ago quarter. 

PNC’s Capital Return Stays Robust In the second quarter of 2026, PNC returned $1.3 billion of capital to its shareholders. This included $0.7 billion in common stock dividends and $0.6 billion in common share repurchases. Share repurchase activity in the third quarter of 2026 is expected to approximate the second-quarter level. 

The company also raised its quarterly common stock dividend by 18% to $2 per share from $1.70. 

PNC Financial’s Guidance For the third quarter of 2026, PNC expects average loans to rise 1% to 2% from the second-quarter baseline. 

NII is expected to increase 3% to 3.5% sequentially, while fee income is projected to decline 5% to 5.5%. 

Other non-interest income is expected to be between $150 million and $200 million. 

Adjusted non-interest expenses are expected to decline 2% to 3% sequentially. Net charge-offs are projected to be nearly $225 million. 

For 2026, the company raised its average loan growth outlook to approximately 12.5% from about 11% mentioned previously. 

PNC also raised its 2026 NII outlook to 15-15.5% from the previously expected approximately 14.5%. The company now expects non-interest income and total revenues to rise about 9% and 13%, respectively, compared with the prior projections of nearly 6% and 11%. 

PNC raised its adjusted non-interest expense growth expectation to approximately 8.5% from about 7%, while maintaining its effective tax rate outlook of nearly 19.5%. 

Our View on PNC PNC Financial’s higher NII, expanding NIM, strong fee income and solid loan growth will likely continue supporting the top-line performance. The company’s strong capital position and improving credit quality also provide room for steady shareholder returns. 

In June 2026, PNC completed the conversion of approximately 780,000 FirstBank customers, more than 1,620 employees and 95 branches across Colorado and Arizona. This marked a key integration milestone and positioned the company for enhanced long-term growth. However, elevated expenses tied to integration and an anticipated sequential decline in fee income remain near-term headwinds.

The PNC Financial Services Group, Inc Price, Consensus and EPS SurpriseCurrently, PNC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

Earnings Dates & Expectations of Other Banks U.S. Bancorp (USB - Free Report) is scheduled to release second-quarter 2026 earnings on July 16. 

The consensus estimate for USB’s quarterly earnings has remained unchanged at $1.28 per share over the past seven days. This indicates a 15.3% increase from the year-ago reported level. 

State Street (STT - Free Report) is slated to report second-quarter 2026 results on July 16. 

Over the past seven days, the Zacks Consensus Estimate for STT’s quarterly earnings has been revised upward to $3.30 per share. This indicates a 30.4% increase from the year-ago reported level. 

PNC Financial logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesJuly 15 (Reuters) - U.S. bank PNC Financial (PNC.N), opens new tab reported record quarterly revenue on Wednesday, boosted by robust capital markets activity and its acquisition of regional ​lender FirstBank.

Dealmaking on Wall Street has accelerated in 2026 as ‌companies take advantage of a more relaxed regulatory environment to pursue scale.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

PNC completed the $4.1 billion acquisition of FirstBank in January, bolstering presence in Colorado and Arizona.

Its capital ​markets and advisory revenue surged 80% over the year earlier ​to $577 million during the second quarter, underpinned by record M&A ⁠advisory fees and strong activity across other businesses.

During the period, ​PNC's Harris Williams advised electrical equipment maker Hubbell (HUBB.N), opens new tab on the $3 billion acquisition ​of NSI Industries.

Net interest income, the difference between what a bank earns on loans and pays out on deposits, jumped 16% to $4.11 billion, driven by strong loan ​growth, the FirstBank acquisition and lower deposit costs.

The results reflect the ​broad-based strength of the U.S. economy. Robust consumer spending has kept credit quality ‌strong ⁠and boosted loan demand.

Average loans rose 13% during the quarter, while net interest margin — a key measure of profitability — expanded 16 basis points.

Profit jumped 25% to $2.06 billion, or $4.81 per share, in the three months ended ​June 30. Revenue ​increased 21% to $6.88 ⁠billion.

BOND PORTFOLIO REJIGPNC booked a one-time gain of $448 million during the quarter, after monetizing a portion of ​its long-held stake in card giant Visa (V.N), opens new tab.

Several U.S. banks ​have ⁠used one-time gains, including those from asset sales, in recent years to rejig their bond securities portfolio and soften the hit from selling securities.

PNC ⁠took ​a $139 million hit after repositioning about $4 billion ​of investment securities into higher-yielding paper in the quarter. It had implemented a similar strategy ​in 2024.

Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Generated record revenue, net interest income and fee income Increased quarterly common stock dividend 30 cents, or 18%, to $2.00 per share PITTSBURGH, July 15, 2026 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 2Q26 1Q26 2Q25 Second Quarter Highlights Financial Results Comparisons reflect 2Q26 vs. 1Q26 Net interest income (NII) $ 4,107 $ 3,961 $ 3,555                     Income Statement Adjusted EPS was $4.85 which excludes the net impact of FirstBank integration costs and 2Q26significant items, resulting in a 4 cent reduction to EPS Generated 3% positive operating leverage; PPNR increased 16%; ROTCE of 17.9% NII increased 4%; NIM of 2.96% increased 1 bp Fee income increased 10%, driven by strong capital markets activity Noninterest expense of $4.1 billion included $140 million of PNC Foundation contribution expense, $121 million of integration expenses and the impact of increased business activity                          Balance Sheet Average loans increased $12.3 billion, or 4% Average deposits were stable Average noninterest-bearing deposits grew 4% Rate paid on interest-bearing deposits declined 5 basis points Net loan charge-offs were $226 million, or 0.25% annualized to average loans Maintained strong capital position CET1 capital ratio of 9.9% Returned $1.3 billion to shareholders, including $0.6 billion of share repurchases Increased quarterly common stock dividend 30 cents, or 18% to $2.00 per share Converted FirstBank customers, employees, systems and branches as of June 22, 2026   Fee income (non-GAAP) 2,279 2,079 1,894   Other noninterest income 489 125 212 Noninterest income 2,768 2,204 2,106 Revenue 6,875 6,165 5,661 Noninterest expense 4,098 3,768 3,383 Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,777 2,397 2,278 Provision for credit losses 191 210 254 Net income 2,055 1,772 1,643 Per Common Share Diluted earnings per share (EPS) $  4.81 $  4.13 $  3.85 EPS impact of integration costs and 2Q26 significant items 0.04 0.19 — Diluted EPS - as adjusted (non-GAAP) 4.85 4.32 3.85 Average diluted common shares outstanding 403 405 397 Book value 145.52 143.65 131.61 Tangible book value (TBV) (non-GAAP) 111.09 109.42 103.96 Balance Sheet & Credit Quality Average loans    In billions $ 363.2 $ 350.9 $ 322.8 Noninterest-bearing deposits    In billions 103.5 99.1 93.1 Interest-bearing deposits    In billions 353.5 359.3 329.8 Average deposits    In billions 457.0 458.4 423.0 Accumulated other comprehensive income (loss) (AOCI) In billions (4.1) (3.8) (4.7) Net loan charge-offs 226 253 198 Allowance for credit losses to total loans 1.48 % 1.52 % 1.62 % Selected Ratios Return on average common shareholders' equity 13.61 % 11.92 % 12.20 % Return on avg.

Key Takeaways PNC's Q2'26 earnings are projected to be $4.51 per share, up 17.1% year over year.Quarterly revenues are estimated to be $6.42 billion, reflecting 12.8% year-over-year growth.A stable interest rate environment, loan growth and FirstBank integration are likely to aid quarterly results. The PNC Financial Services Group, Inc. (PNC - Free Report) is scheduled to report second-quarter 2026 results on July 15, before market open. The company’s revenues and earnings are expected to have improved on a year-over-year basis.

In the first quarter of 2026, the company’s earnings surpassed the Zacks Consensus Estimate, driven by higher net interest income (NII) and fee income. Further, rising loan and deposit balances supported the results. However, higher expenses acted as a headwind.

PNC has an impressive earnings surprise history. Its earnings surpassed estimates in the trailing four quarters with an average surprise of 8.95%.

Factors to Impact PNC Financial’s Q2 EarningsNII & Loans: In the second quarter of 2026, the Federal Reserve kept interest rates unchanged while noting that economic activity continued to expand at a solid pace despite elevated uncertainty and inflation remaining above its 2% target. The stable rate environment is likely to have supported PNC Financial's NII growth.

Management expects NII to rise approximately 3% sequentially in the second quarter of 2026.

The Zacks Consensus Estimate for NII of $4.1 billion indicates a sequential rise of nearly 3.2%.

Per the Fed’s latest data, demand for commercial and industrial, real estate and consumer loans was decent in the second quarter of 2026. As such, a stable rate environment and decent loan demand are expected to have supported the company's overall lending activity in the quarter to be reported.

The Zacks Consensus Estimate for average interest-earning assets is pegged at $552.4 billion, indicating a sequential rise of 2.2%. The company expects average loans to rise nearly 2%-3% sequentially in the second quarter of 2026.

Non-Interest Revenues: The second quarter remained challenging for the mortgage business, with mortgage rates hovering around the mid-6.5% range and affordability remaining strained. While purchase activity continued to face pressure from inventory constraints, refinancing activity witnessed a modest improvement. As a result, PNC's residential and commercial mortgage revenues are likely to have improved in the quarter to be reported.

The Zacks Consensus Estimate for residential and commercial mortgage revenues is pegged at $131.1 million, indicating a sequential rise of 11.1%.

The second quarter witnessed solid client activity and market volatility, though both were less pronounced than in the previous quarter. Market conditions were shaped by shifting expectations around artificial intelligence, persistent geopolitical tensions, lingering inflation concerns and the Fed's relatively hawkish monetary policy stance. Volatility across equity markets, commodities, bonds and foreign exchange is likely to have supported client activity. As a result, PNC Financial's asset management and brokerage income is likely to have improved in the quarter to be reported.

The Zacks Consensus Estimate for the metric is pegged at $430.7 million, indicating a nearly 2.5% rise sequentially.

Global mergers and acquisitions (M&A) activity moderated in the second quarter of 2026 after a strong start to the year, as ongoing geopolitical uncertainty, elevated inflation, a persistent backlog of private equity exits and higher interest rates weighed on deal-making. While deal value declined as only a few large transactions dominated the market, M&A volumes improved year over year. Despite the challenging backdrop, the increase in deal volumes is likely to have supported PNC's capital markets and advisory revenues in the quarter to be reported.

The Zacks Consensus Estimate for the company's capital markets and advisory income is pinned at $478.3 million, indicating a sequential increase of nearly 3.3%.

Further, the Zacks Consensus Estimate for card and cash management revenues is pinned at $765.9 million, indicating a sequential increase of 3.7%. The consensus estimate for lending and deposit services is pegged at $338.5 million, indicating a marginal decline from the previous quarter's actual.

Management expects fee income to decline nearly 2.5% sequentially in the second quarter of 2026.

The Zacks Consensus Estimate for non-interest income is pegged at $2.33 billion, indicating a 5.6% increase from the previous quarter.

Expenses: The company's expenses are expected to have remained elevated in the second quarter of 2026, mainly due to FirstBank integration costs. Continued investments in franchise expansion, technology and digitalization are also likely to have kept expenses high.

Management expects non-interest expenses to rise nearly 2% sequentially in the second quarter of 2026.

Asset Quality: PNC Financial is likely to have maintained elevated reserves, particularly in its commercial lending portfolio, amid persistent inflation and geopolitical uncertainty stemming from the Middle East conflict. Additionally, the Fed's June statement signaling the possibility of a rate hike is expected to have prompted the company to remain cautious and build substantial provisions for potential credit losses in the second quarter of 2026.

Management expects net charge-offs to be around $225 million, down from $253 million in the first quarter of 2026.

The Zacks Consensus Estimate for non-performing assets is pegged at $2.55 billion, indicating an increase of 7% from the previous quarter. Also, the consensus estimate for non-performing loans is pinned at $2.45 billion, implying a sequential rise of 9.3%.

What Our Model Unveils for PNCOur proven model does not conclusively predict an earnings beat for PNC Financial this time. The combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. This is not the case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: PNC Financial has an Earnings ESP of -0.30%.

Zacks Rank: The company currently carries a Zacks Rank of 3.

PNC Financial’s Q2 Earnings & Sales ExpectationsThe Zacks Consensus Estimate for second-quarter earnings per share has been revised downward to $4.51 over the past seven days. This implies a year-over-year rise of 17.1%.

The Zacks Consensus Estimate for quarterly revenues of $6.42 billion indicates a 12.8% year-over-year increase. PNC projects total revenues to rise approximately 3.5% in the second quarter of 2026 from the $6.2 billion reported in the first quarter of 2026.

Stocks to ConsiderHere are a couple of bank stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time:

The Earnings ESP for M&T Bank (MTB - Free Report) is +0.13% and carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is slated to report second-quarter 2026 results on July 15, 2026. Over the past seven days, the Zacks Consensus Estimate for MTB's quarterly earnings has remained unchanged at $4.66 per share.

U.S. Bancorp (USB - Free Report) is also scheduled to announce second-quarter 2026 results on July 16, 2026. The company has an Earnings ESP of +0.34% and a Zacks Rank #2 at present.

Quarterly earnings estimates for USB have been revised upward to $1.28 per share over the past week.

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

Headquartered in Pittsburgh, The PNC Financial Services Group, Inc (PNC - Free Report) is a Finance stock that has seen a price change of 20.21% so far this year. Currently paying a dividend of $1.70 per share, the company has a dividend yield of 2.71%. In comparison, the Financial - Investment Bank industry's yield is 1.18%, while the S&P 500's yield is 1.36%.

Looking at dividend growth, the company's current annualized dividend of $6.80 is up 3% from last year. Over the last 5 years, The PNC Financial Services Group, Inc has increased its dividend 3 times on a year-over-year basis for an average annual increase of 8.49%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. The PNC Financial Services Group's current payout ratio is 39%, meaning it paid out 39% of its trailing 12-month EPS as dividend.

Looking at this fiscal year, PNC expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $18.83 per share, with earnings expected to increase 13.50% from the year ago period.

Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. However, not all companies offer a quarterly payout.

For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, PNC is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).

Key Takeaways PNC is expanding through FirstBank and other deals, strengthening its market reach and revenue base.PNC benefits from solid capital, liquidity and an 18% dividend hike after the 2026 Fed stress test.PNC targets long-term growth through branch expansion, though expenses and commercial loans remain risks. The PNC Financial Services Group, Inc. (PNC - Free Report) shares have gained 14.3% in the past six months, outperforming the industry’s growth of 7.2%. Its close peers, Citigroup Inc. (C - Free Report) , have gained 16.7%, whereas shares of Wells Fargo (WFC - Free Report) have lost 9.9% during the same time period.

Price Performance
Image Source: Zacks Investment Research

Can PNC shares continue gaining after their recent strength? Let’s take a closer look.

What’s Aiding PNC’s Performance?Business Expansion Through Strategic Acquisitions: PNC Financial has been actively expanding its business through strategic acquisitions and partnerships to strengthen its market presence and diversify its revenue base. In January 2026, the company acquired FirstBank Holding Company, substantially expanding its franchise in Colorado and Arizona. The acquisition added 95 branches and $26.8 billion in assets, with management expecting the deal to contribute nearly $1 per share to earnings by 2027. Further, the successful conversion of 780,000 FirstBank customers, more than 1,620 employees and all 95 branches in June 2026 marked the completion of a major integration milestone.

Beyond expanding its banking footprint, PNC Financial has continued to enhance its product offerings and investment banking capabilities. In August 2025, it acquired Aqueduct Capital Group to strengthen the fund placement capabilities of Harris Williams. In 2024, the company partnered with Plaid to facilitate secure customer data sharing and expanded its alliance with TCW Group to offer private credit solutions to middle-market companies. These strategic initiatives are expected to support revenue diversification and drive long-term growth.

Solid Liquidity and Capital Strength Drive Shareholder Value: The company maintains a solid liquidity and capital position. As of March 31, 2026, its total available liquidity (comprising cash and due from banks, and interest-earning deposits in banks) was $31.7 billion, while long-term debt totaled $63.9 billion, with no short-term borrowings. Further, in June 2026, PNC cleared the Federal Reserve’s 2026 stress test, with its Common Equity Tier 1 (CET1) ratio of 10.1% comfortably exceeding its stress capital buffer-based regulatory requirement of 7%. Backed by this capital strength, the company raised its quarterly common stock dividend by 18% to $2 per share in July 2026.

Over the past five years, PNC has increased its dividend six times, delivering a five-year annualized dividend growth rate of 6%. Further, its current dividend yield of 2.76% compares favorably with the industry's average of 1.66%.

Dividend Yield
Image Source: Zacks Investment Research

Likewise, its peers, WFC and C, also announced plans to increase dividends following the 2026 Fed’s stress test. Wells Fargo intends to raise its third-quarter 2026 common stock dividend by 11% to 50 cents per share, subject to board approval, while Citigroup plans to increase its quarterly common stock dividend by 12% to 67 cents per share beginning in the third quarter of 2026, subject to quarterly board approval.

Apart from regular dividend hikes, PNC also returns capital through share repurchases. The company has an existing authorization to repurchase up to 100 million common shares, with nearly 32 million shares remaining under the program as of March 31, 2026. Given its strong liquidity and capital position, PNC's capital deployment initiatives appear sustainable and are expected to continue enhancing shareholder value.

Steady Growth in Loans and Deposits: The company continues to benefit from steady growth in its loan and deposit balances, supported by a strong balance sheet and strategic expansion initiatives. Its total loans and deposits recorded a compound annual growth rate (CAGR) of 5.5% and 7.3%, respectively, between 2019 and 2025. The growth momentum continued in the first quarter of 2026, with both loan and deposit balances increasing year over year. The acquisition of FirstBank further strengthened the company's balance sheet, adding nearly $16 billion in loans and $23 billion in deposits during the quarter. Earlier, in 2023, PNC Financial acquired approximately $16 billion of loan commitments from Signature Bank, enhancing its lending capacity.

Looking ahead, a well-diversified deposit base, continued growth in commercial and operational deposits and a relatively favorable interest rate environment are expected to support loan demand. Reflecting these tailwinds, management expects average loan balances to grow nearly 11% year over year in 2026, up from its earlier expectation of about 8% growth.

Expansion of Branch Network: PNC Financial continues to invest in its retail banking franchise through an aggressive branch expansion strategy. In November 2025, the company increased its planned investment in branch expansion to nearly $2 billion from the $1.5 billion announced in 2024. The initiative includes opening more than 300 branches across nearly 20 U.S. markets, renovating its entire branch network by 2029 and hiring more than 2,000 employees by 2030.

The company's focus on expanding in high-growth markets has already supported customer acquisition and checking account growth. Going forward, the expanded branch network is expected to strengthen PNC Financial's retail banking presence, deepen customer relationships and support sustainable revenue growth.

Few Concerns Prevail for PNCPersistent Expense Pressure: PNC Financial continues to witness an increase in operating expenses. The company's non-interest expenses recorded a CAGR of 4.6% between 2019 and 2025, with the upward trend continuing in the first quarter of 2026. While the company exceeded its 2025 Continuous Improvement Program cost-saving target, merger integration costs and continued investments in technology, branch expansion and personnel are expected to keep expenses elevated in the near term.

Total Expense Trend
Image Source: Zacks Investment Research

Loan Portfolio Concentration: The company's loan portfolio remains heavily concentrated in commercial lending. As of March 31, 2026, commercial loans accounted for 70% of total loans. Despite a diversified commercial portfolio, persistent weakness in office real estate and an uncertain macroeconomic environment remain concerns. Commercial loans accounted for 61.5% of total non-performing loans and 47.4% of net charge-offs as of March 31, 2026. Further, management expects commercial real estate charge-offs, particularly in the office segment, to remain elevated, posing risks to asset quality if economic conditions weaken.

Parting Thoughts on PNCPNC Financial's strategic acquisitions, expanding branch network, steady loan and deposit growth and solid liquidity position are expected to support its long-term financial performance.

Over the past week, the Zacks Consensus Estimate for 2026 earnings per share has been revised upward, while the estimate for 2027 has been revised downward.

Estimate Revision Trend
Image Source: Zacks Investment Research

The expected estimates imply growth of 13.5% and 11.4% for 2026 and 2027, respectively.

However, persistent expense pressure and the company's significant exposure to commercial lending remain key near-term headwinds. Additionally, the Fed's signal of a possible rate hike later in 2026 might put additional pressure on asset quality.

From a valuation perspective, PNC stock appears inexpensive relative to the industry. It is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 12.36X, below the industry's 14.67X. Meanwhile, Wells Fargo and Citigroup trade at P/E multiples of 11.51X and 11.73X, respectively.

Price-to-Earnings F12 M
Image Source: Zacks Investment Research

Investors already holding the stock may consider retaining their positions, given PNC Financial's diversified growth initiatives, solid liquidity profile and sustainable capital deployment strategy. Those considering fresh investments may prefer to wait for a more favorable entry point until there is greater clarity on expense trends and commercial credit quality.

Currently, PNC Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 

The market expects The PNC Financial Services Group, Inc (PNC - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 15. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly earnings of $4.51 per share in its upcoming report, which represents a year-over-year change of +17.1%.

Revenues are expected to be $6.47 billion, up 13.7% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.27% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for The PNC Financial Services Group?For The PNC Financial Services Group, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.30%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that The PNC Financial Services Group will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that The PNC Financial Services Group would post earnings of $4.12 per share when it actually produced earnings of $4.32, delivering a surprise of +4.85%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

The PNC Financial Services Group doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Financial - Investment Bank industry, Goldman Sachs (GS - Free Report) , is soon expected to post earnings of $14.01 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +28.4%. Revenues for the quarter are expected to be $16.49 billion, up 13.1% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Goldman has been revised 2.6% up to the current level. Nevertheless, the company now has an Earnings ESP of +2.07%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #2 (Buy), suggests that Goldman will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.