09:23 AM EDT, 04/19/2024 (MT Newswires) -- PNC Financial Services ( PNC ) is being viewed as a "good long-term" holding in the banking group as its Q1 results were also very close to expectations, Oppenheimer said in a note to clients Thursday.

During the company's earnings call, the "most interesting" point was the discussion about bond and swap portfolio repricing dynamics and the dynamics are believed to be similar to other banks, the report added.

Due to commercial real estate, the non-performing asset ratio rose slightly but the overall credit quality of PNC is still "outstanding", the report said.

The analyst firm now expects PNC to report Q2 earnings of $2.97 per diluted share, slightly down from its prior outlook of $2.98 per diluted share.

Oppenheimer maintained its perform rating on PNC's stock.