PNC Financial Services Group Inc

PNC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$981.00	Pkgxt	Wqxdpfbd

PNC Earnings: Expenses Are Well-Managed; Net Interest Income Will Worsen Before Seeing Improvement

Suryansh Sharma ,

Apr 16, 2024

Narrow-moat-rated PNC Financial reported decent results in the first quarter as earnings came in at $3.10 per share, compared with FactSet’s consensus estimate of $3.01 per share. Included in the results was an incremental $130 million FDIC special assessment charge related to the FDIC increasing its estimated loss from the March 2023 banking events. We do not anticipate a significant change to our $175 per share fair value estimate as we incorporate first-quarter results.

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