Last $84.73 USD
Change Today +0.07 / 0.08%
Volume 1.7M
PNC On Other Exchanges
Symbol
Exchange
New York
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As of 6:40 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

pnc financial services group (PNC) Snapshot

Open
$84.50
Previous Close
$84.66
Day High
$84.92
Day Low
$84.35
52 Week High
04/4/14 - $88.03
52 Week Low
04/23/13 - $65.18
Market Cap
45.3B
Average Volume 10 Days
2.6M
EPS TTM
$7.39
Shares Outstanding
534.1M
EX-Date
04/11/14
P/E TM
11.5x
Dividend
$1.92
Dividend Yield
2.12%
Current Stock Chart for PNC FINANCIAL SERVICES GROUP (PNC)

pnc financial services group (PNC) Details

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock, and Non-Strategic Assets Portfolio. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management services to consumer and small business customers through branch network, ATMs, call centers, online banking, and mobile channels. This segment operates 2,714 branches and 7,445 ATMs. The Corporate & Institutional Banking segment provides lending products, such as secured and unsecured loans, letters of credit, and equipment leases; treasury management services, including cash and investment management, receivables management, disbursement and funds transfer, information reporting, and trade services; and foreign exchange, derivatives, securities, loan syndications, mergers and acquisitions advisory, and related services. This segment also offers commercial loan servicing, and real estate advisory and technology solutions. The Asset Management Group segment provides wealth management products and services comprising investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and administration; and institutional asset management services. The Residential Mortgage Banking segment offers first lien residential mortgage loans. The BlackRock segment provides investment management, market risk management, enterprise investment system, and financial markets advisory services. The Non-Strategic Assets Portfolio segment offers consumer residential mortgage, brokered home equity loans, and lines of credit, as well as commercial loans and leases. The company was founded in 1922 and is headquartered in Pittsburgh, Pennsylvania.

49,844 Employees
Last Reported Date: 04/16/14
Founded in 1922

pnc financial services group (PNC) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $922.1K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $475.0K
Head of Operations & Technology and Executive...
Total Annual Compensation: $1.9M
Head of Corporate & Institutional Banking and...
Total Annual Compensation: $700.0K
Senior Vice Chairman and Chief Risk Officer
Total Annual Compensation: $620.0K
Compensation as of Fiscal Year 2013.

pnc financial services group (PNC) Key Developments

The PNC Financial Services Group, Inc. Announces Management Changes

The PNC Financial Services Group, Inc. board of directors has elected William S. Demchak its chairman effective April 22, 2014. Demchak succeeds James E. Rohr, who announced his retirement plans in February 2013. Demchak is now chairman, president and chief executive officer of PNC. He was named chief executive officer in April 2013 upon Rohr's retirement from that position, and he has held the title of president since April 2012. He joined PNC in 2002 as chief financial officer. Rohr, who joined PNC through its management development program in 1972, also left the board on April 22, 2014. His retirement marked 42 years with the company, including 13 years as chief executive officer and chairman.

The PNC Financial Services Group, Inc. to Close Retail Locations and Converting Others to So-Called Universal Branches

The PNC Financial Services Group, Inc. announced that it has been closing retail locations and converting others to so-called universal branches, which replace traditional teller windows with a row of ATMs that customers use to make deposits and withdraw cash. The bank closed 200 branches last year and 22 in the first quarter of 2014 and intends to shutter another 19 in the next three months. These changes have led to layoffs, as the bank sheds part- and full-time staff at its retail branches.

The PNC Financial Services Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Impairment Charges for the First Quarter Ended March 31, 2014; Provides Net Interest Income Guidance for the Second Quarter of 2014

The PNC Financial Services Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, total revenue was $3,777 million against $3,955 million a year ago. The decline were due to lower noninterest income and net interest income in the linked quarter comparison and lower net interest income compared with first quarter 2013. Income before income taxes and non controlling interests was $1,419 million against $1,351 million a year ago. Net income attributable to common shareholders was $992 million against $928 million a year ago. Return on average common shareholders equity was 10.36% against 10.58% a year ago. Return on average assets was 1.35% against 1.33% a year ago. Book value per common share was $73.73 as at March 31, 2014. Total net interest income was $2,195 million against $2,389 million a year ago. Results were driven by loan and deposit growth, well-controlled expenses and credit quality improvement as well as seasonal trends. Net income was $1,060 million or $1.82 per diluted share against $995 million or $1.74 per diluted share a year ago. Tangible book value reached $56.33 per common share as of March 31, a 3.2% increase linked quarter and a 12% increase year-over-year, reflecting commitment to delivering shareholder value. The company expects for second quarter net interest income to be down modestly due to the continued decline in purchase accounting accretion and further spread compression. Expects fee income to increase in the low single digits, reflecting continued focus on strategic priorities. For the first quarter of 2014, the company reported net charge-offs were $186 million. In the comparison with first quarter 2013, net charge-offs decreased $270 million reflecting improving credit quality.

 

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Industry Analysis

PNC

Industry Average

Valuation PNC Industry Range
Price/Earnings 11.3x
Price/Sales 3.0x
Price/Book 1.1x
Price/Cash Flow 10.6x
TEV/Sales NM Not Meaningful
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