Overview

* PNC Q3 revenue beats expectations, growing 9% yr/yr to $5.9 bln

* Net income for Q3 rises to $1.8 bln, with diluted EPS at $4.35

* PNC announced $4.1 bln acquisition of FirstBank on Sept. 8, expanding in Colorado and Arizona

Outlook

* PNC expects FirstBank acquisition to close in early 2026

* Company plans strategic expansion in Colorado and Arizona

Result Drivers

* FEE INCOME GROWTH - Fee income increased 9% driven by broad-based growth across categories

* CREDIT QUALITY - Strong credit quality with reduced net loan charge-offs and stable allowance for credit losses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $5.91 $5.83

Revenue bln bln (15

Analysts

)

Q3 EPS $4.35

Q3 Net $1.82

Income bln

Q3 Net $3.64

Interest bln

Income

Q3 2.79%

Adjusted

Net

Interest

Margin

Q3 CET1 10.60%

Capital

Ratio

Q3 $167 mln

Provisio

n for

Credit

losses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for PNC Financial Services Group Inc ( PNC ) is $225.00, about 15.7% above its October 14 closing price of $189.73

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)