Recent Insider Transactions • Jun 16
Executive VP & Head of Retail Banking recently sold Mex$6.0m worth of stock On the 8th of June, Alexander E. Overstrom sold around 2k shares on-market at roughly Mex$3,977 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$172m. Insiders have been net sellers, collectively disposing of Mex$451m more than they bought in the last 12 months. Announcement • Jun 09
PNC Bank Announces Executive Changes PNC Bank has recently appointed Brian Vesey as regional president for Philadelphia, Delaware and Southern New Jersey, succeeding Joseph G. Meterchick, who will retire in August after a 45-year career with the bank and its predecessor institutions. Vesey currently serves as executive vice president and Corporate Banking market executive for the region. A longtime PNC banker, he joined the organisation in 1994 through its acquisition of Midlantic Bank, and has held a series of leadership positions across middle-market and corporate banking. In his new role, he will oversee PNC's business development efforts, community engagement initiatives, and regional market strategy. Vesey's extensive experience and deep ties to the market position him to build on the foundation established by Meterchick, who has led the Philadelphia, Delaware and Southern New Jersey region since 2016. Meterchick's banking career spanned corporate banking, capital markets, business credit, and regional leadership roles, including serving as head of PNC's Florida West market before returning to the Philadelphia region. Recent Insider Transactions • May 29
Independent Lead Director recently sold Mex$172m worth of stock On the 26th of May, Andrew Feldstein sold around 45k shares on-market at roughly Mex$3,824 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$463m more than they bought in the last 12 months. Announcement • Apr 03
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on May 5, 2026 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.70 per share. The dividend will be payable May 5, 2026, to shareholders of record at the close of business April 14, 2026. Announcement • Mar 05
The PNC Financial Services Group, Inc., Annual General Meeting, Apr 22, 2026 The PNC Financial Services Group, Inc., Annual General Meeting, Apr 22, 2026. Announcement • Feb 19
Pnc Financial Services Group Announces Executive Changes PNC Financial Services Group Inc. announced that Richard Bynum, the veteran PNC executive who has served as chief corporate responsibility officer since 2020, is retiring in April, the Pittsburgh-based financial institution announced on Tuesday, triggering some key leadership appointments Effective 17 February 2026, Stacy Juchno has been promoted to CCRO, and Mike Abriatis succeeds Juchno as general auditor. Both are based in Pittsburgh. Bynum, who is based in Washington, D.C., has built a more than 20-year career at PNC. Juchno has been executive vice president and general auditor for more than a dozen years. She is also the executive leader of the PNC Military Employee Business Resource Group and a member of the PNC Foundation board of directors. Abriatis, who joined PNC in 2003, additionally joins the executive committee. He will report to the audit committee of the board and administratively to Demchak. Most recently, Abriatis served as the head of Non-Financial Risk Management within Independent Risk Management. Announcement • Feb 13
Pnc Launches Monthly Consumer Health Check to Deliver Real-Time Pulse on U.S. Spending and the Economy The PNC Financial Services Group, Inc. announced the launch of the PNC Monthly Consumer Health Check, a new series of concise, data-driven updates that leverages PNC's proprietary, anonymized and aggregated data to provide a real-time view of consumer activity and the broader U.S. economy. The new report, available now, will publish monthly, offering timely insights to business leaders, investors and households navigating an evolving economic landscape. Drawing on indicators such as consumer spending trends, transaction volumes, savings and cash-flow patterns, and employment trends, the PNC monthly Consumer Health Check aims to translate rapid-cycle data into actionable context for decision-makers. What's Inside the Monthly Consumer Health Check: Headline Consumer Activity: A concise gauge of month-over-month momentum in household spending. Category Breakouts: Trends across essentials (e.g., groceries, fuel), discretionary (e.g., dining, travel) and emerging spending trends like gambling and AI. Household Financial Posture: Read-outs on deposit balances, cash-flow cushions and payment behaviors that indicate resilience or stress. Forward Look: Brief commentary from PNC economists and investment professionals on near-term implications for growth, inflation and risk assets. The PNC Monthly Consumer Health Check is produced by aggregating and anonymizing internal data sources, applying robust privacy safeguards, and seasonal and calendar adjustments where appropriate. The index and sub-series are benchmarked to a neutral base period to make month-to-month changes easier to interpret. No personally identifiable information is accessed or shared at any point in the process. Reported Earnings • Jan 16
Full year 2025 earnings released: EPS: US$16.60 (vs US$13.77 in FY 2024) Full year 2025 results: EPS: US$16.60 (up from US$13.77 in FY 2024). Revenue: US$22.3b (up 7.5% from FY 2024). Net income: US$6.62b (up 20% from FY 2024). Profit margin: 30% (up from 27% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 16
The PNC Financial Services Group, Inc. Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2025 The PNC Financial Services Group, Inc. reported net loan charge-offs for the fourth quarter ended December 31, 2025. For the quarter, the company reported net loan charge-offs of $162 million compared to $250 million a year ago. Declared Dividend • Jan 11
Third quarter dividend of US$1.70 announced Shareholders will receive a dividend of US$1.70. Ex-date: 20th January 2026 Payment date: 5th February 2026 Dividend yield will be 2.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (42% payout ratio) and is expected to be well covered in 3 years' time (38% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 06
The PNC Financial Services Group, Inc. (NYSE:PNC) completed the acquisition of FirstBank Holding Company. The PNC Financial Services Group, Inc. (NYSE:PNC) entered into an Agreement and Plan of Merger to acquire FirstBank Holding Company for $4.1 billion on September 5, 2025. A cash consideration of $1.2 billion will be paid by The PNC Financial Services Group, Inc. The consideration consists of 13.9 million common equity of The PNC Financial Services Group, Inc. having a value of $2.84 billion to be issued for common equity of FirstBank Holding Company. 70% of FBHC shares will receive the per share stock consideration and approximately 30% of FBHC shares will receive the per share cash consideration. In case of termination FirstBank Holding will pay $100 million.
As of June 30, 2025, FirstBank Holding Company reported total assets of $26.8 billion.
The transaction is subject to approval by regulatory board / committee, approval of offer by FirstBank shareholders, approval/consents of lenders/creditors, listing approval, effectiveness of S-4 and consummation of due diligence investigation. The deal has been approved by the board of both FirstBank and The PNC Financial Services Group, Inc. The transaction is expected to close in early 2026. Financials are immediately accretive to earnings. As on December 12, 2025, the transaction has received all the required regulatory approvals and is expected to be completed on January 5, 2026.
Wells Fargo Securities, LLC acted as financial advisor for The PNC Financial Services Group, Inc. Nicholas G. Demmo and Edward D. Herlihy of Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for The PNC Financial Services Group, Inc. Morgan Stanley & Co. LLC acted as financial advisor, fairness opinion provider for FirstBank Holding Company and will receive a fee of $3 million for opinion rendered and $20 million towards advisory fee. Goldman Sachs & Co. LLC acted as financial advisor and fairness opinion provider for FirstBank Holding Company and will receive a fee of $23 million. David C. Spitzer, Mehdi Ansari, Mitchell S. Eitel, Jared M. Fishman and Heather L. Coleman of Sullivan & Cromwell LLP acted as legal advisor for FirstBank Holding Company. Innisfree M&A Incorporated acted s proxy solicitor to FirstBank Holding and will receive a fee of $0.03 million. Computershare Trust Company, National Association acted as transfer agent to PNC Financial Services.
The PNC Financial Services Group, Inc. (NYSE:PNC) completed the acquisition of FirstBank Holding Company on January 5, 2026. Announcement • Jan 05
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend, Payable on February 5, 2026 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.70 per share. The dividend will be payable February 5, 2026, to shareholders of record at the close of business January 20, 2026. Announcement • Dec 15
PNC Bank Announces National Introduction of PNC Simple Checking PNC Bank announced the national introduction of PNC Simple Checking, a low-cost, straightforward account that takes the complexity out of banking. PNC Simple Checking delivers a streamlined approach with no overdraft or nonsufficient fund fees, along with multiple ways to avoid a low monthly service charge, making it an accessible solution for everyday financial needs. This enhanced offering reflects PNC's commitment to providing customers with transparent banking experiences that minimize unwanted fees and simplified money management. PNC Simple Checking is a fully functional account designed for everyday banking needs. It includes robust digital tools such as customizable transaction and balance alerts, giving customers greater control over their finances. Users will enjoy unlimited direct deposits, teller transactions, check writing and withdrawals, plus no charge for cashier's checks. The account comes with built-in safeguards to help customers manage funds responsibly all while maintaining the convenience and flexibility of a modern checking account. PNC Simple Checking will also become PNC's new student banking solution, offering high schoolers and university students a PNC checking account with no monthly service charges until the age of 25. The new offering will continue to help students avoid overdrawing their accounts while giving them access to appealing features including University Banking. PNC Simple Checking includes a $5 monthly service charge, which can be avoided for PNC employees, customers under 25 or age 62 and older, or those with a qualifying direct deposit in any amount. Customers will also enjoy access to convenient digital tools such as the PNC Mobile App and Zelle®?, along with cardless ATM access and the option to personalize their debit card. Announcement • Dec 13
PNC Receives Regulatory Approvals for Acquisition of Firstbank The PNC Financial Services Group, Inc. announced that it has received the regulatory approvals required to complete its previously announced acquisition of FirstBank Holding Company, including its banking subsidiary, FirstBank. Regulatory approvals have been received from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Colorado Division of Banking. PNC expects the transaction to close on or about Jan. 5, 2026, subject to the satisfaction of customary closing conditions. Following closing, PNC will begin the process of integrating FirstBank into PNC's national platform, including its leading treasury management, payments, and digital banking capabilities. Full customer conversion is expected to occur in mid-2026.FirstBank, headquartered in Lakewood, Colorado, is one of the largest privately held banks in the country and adds meaningful scale to PNC's presence in the Rocky Mountain region and the Southwest, including Colorado and Arizona. Announcement • Dec 09
PNC First Major Bank to Launch Direct Bitcoin Access for Clients, Powered by Coinbase's Crypto-As-A-Service Infrastructure PNC Bank announced the launch of direct spot bitcoin trading capabilities for eligible clients of PNC Private Bank, making PNC the first to market with such an offering among the major U.S. banks. Powered by Coinbase's Crypto-as-a-Service ("CaaS") market leading infrastructure, PNC has enabled clients to buy, hold and sell bitcoin directly through PNC's own digital banking platform. The launch marks a key milestone in PNC's strategic partnership with Coinbase, announced in July, to provide trusted, secure and innovative digital asset solutions to PNC's private banking clients. The first generation of PNC's new "crypto for clients" solution integrates Coinbase's institutional-grade CaaS infrastructure within the PNC Private Bank Online platform. Through Portfolio View, eligible clients can now access crypto custody capabilities to directly buy, hold and sell bitcoin. With more than 100 offices and serving high- and ultra-high-net worth clients, PNC Private Bank is positioned to offer its client base access to the digital asset economy. Coinbase's Crypto-as- a-Service infrastructure provides PNC with solutions for trading, custody and financing, --empowering PNC to advance its crypto business and positioning it as a leader among major banks. Through this partnership, PNC Private Bank clients can now directly buy, sell and securely hold bitcoin through PNC's own digital Banking platform, making it easier and safer for them to participate in the crypto market. By integrating these capabilities, PNC Private Bank clients benefit from the convenience of trading and securely storing bitcoin, with the added advantage of having all of their accounts and activities on a single, streamlined platform for greater oversight and simplicity. PNC plans to expand access to additional client segments and introduce enhanced features and services in future phases of the offering. Recent Insider Transactions • Nov 07
Insider recently sold Mex$3.4m worth of stock On the 4th of November, Michael Thomas sold around 1k shares on-market at roughly Mex$3,414 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$3.8m. Insiders have been net sellers, collectively disposing of Mex$180m more than they bought in the last 12 months. Recent Insider Transactions • Oct 29
EVP & Head of Technology recently sold Mex$3.7m worth of stock On the 24th of October, Deborah Guild sold around 1k shares on-market at roughly Mex$3,438 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$3.8m. Insiders have been net sellers, collectively disposing of Mex$177m more than they bought in the last 12 months. Announcement • Oct 17
Scott+Scott Files Lawsuit Against Jpmorgan Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, Pnc, and Truist Scott+Scott Attorneys at Law LLP filed a class action lawsuit on behalf of two California and Colorado residents against some of the nation’s leading banks, including JPMorgan Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC, and Truist. The lawsuit of nationwide significance was filed in the United States District Court for the District of Connecticut and alleges that the largest U.S. banks conspired to fix, raise, and stabilize the rate charged to their most creditworthy customers for short-term loans, commonly referred to as “prime rates.” These prime rates, which control the interest rates on millions of consumer and small-business loans, are collected and regularly published by The Wall Street Journal as the Wall Street Journal Prime Rate (“WSJ Prime Rate”). The WSJ Prime Rate, in turn, governs the interest rates most Americans pay on their credit cards and home equity loans. The litigation alleges that by coordinating their interest rates for prime customers, defendant banks not only charged their prime loan customers supracompetitive rates, but also artificially inflated interest rates for millionsof loans explicitly tied to the WSJ Prime Rate, reaping billions in profits. The antitrust class action lawsuit alleges conspiracy and rate fixing related to a variety of financial products, including HELOC (Home Equity Lines of Credit) and Consumer Credit Cards. The case is: Normandin et al. v. JP Morgan Chase Bank, N. A et al. No. 3:25-cv-01749, (D. CT). Reported Earnings • Oct 15
Third quarter 2025 earnings released: EPS: US$4.36 (vs US$3.50 in 3Q 2024) Third quarter 2025 results: EPS: US$4.36 (up from US$3.50 in 3Q 2024). Revenue: US$5.75b (up 11% from 3Q 2024). Net income: US$1.74b (up 24% from 3Q 2024). Profit margin: 30% (up from 27% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in South America. Announcement • Oct 15
The PNC Financial Services Group, Inc. Reports Net Loan Charge-Offs for the Third Quarter Ended September 30, 2025 The PNC Financial Services Group, Inc. reported net loan charge-offs for the third quarter ended September 30, 2025. The company announced third quarter net loan charge-offs to be $179 million decreasing $19 million compared to the second quarter of 2025 and $107 million compared to the third quarter of 2024. In both comparisons, the decline reflected lower commercial real estate net loan charge-offs. Announcement • Oct 03
The PNC Financial Services Group, Inc. Declares A Quarterly Cash Dividend on the Common Stock, Payable November 5, 2025 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.70 per share. The dividend will be payable November 5, 2025, to shareholders of record at the close of business October 14, 2025. Recent Insider Transactions • Sep 14
EVP & Head of Retail Banking recently sold Mex$3.8m worth of stock On the 11th of September, Alexander E. Overstrom sold around 1k shares on-market at roughly Mex$3,767 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$176m more than they bought in the last 12 months. Announcement • Sep 08
The PNC Financial Services Group, Inc. (NYSE:PNC) entered into an Agreement and Plan of Merger to acquire FirstBank Holding Company for $4 billion. The PNC Financial Services Group, Inc. (NYSE:PNC) entered into an Agreement and Plan of Merger to acquire FirstBank Holding Company for $4 billion on September 5, 2025. A cash consideration of $1.2 billion will be paid by The PNC Financial Services Group, Inc. The consideration consists of 13.9 million common equity of The PNC Financial Services Group, Inc. having a value of $2.84 billion to be issued for common equity of FirstBank Holding Company. As part of consideration, $4 billion is paid towards common equity of FirstBank Holding Company. Financials are immediately accretive to earnings.
As of June 30, 2025, FirstBank Holding Company reported total assets of $26.8 billion.
The transaction is subject to approval by regulatory board / committee, approval of offer by FirstBank shareholders, approval/consents of lenders/creditors and consummation of due diligence investigation. The deal has been approved by the board of both FirstBank and The PNC Financial Services Group, Inc. The expected completion of the transaction is Q1, 2026.
Wells Fargo Securities, LLC acted as financial advisor for The PNC Financial Services Group, Inc. Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for The PNC Financial Services Group, Inc. Morgan Stanley & Co. LLC acted as financial advisor for FirstBank Holding Company. Goldman Sachs & Co. LLC acted as financial advisor for FirstBank Holding Company. David C. Spitzer, Mehdi Ansari, Mitchell S. Eitel, Jared M. Fishman and Heather L. Coleman of Sullivan & Cromwell LLP acted as legal advisor for FirstBank Holding Company. Reported Earnings • Jul 18
Second quarter 2025 earnings released: EPS: US$3.88 (vs US$3.39 in 2Q 2024) Second quarter 2025 results: EPS: US$3.88 (up from US$3.39 in 2Q 2024). Revenue: US$5.41b (up 4.5% from 2Q 2024). Net income: US$1.54b (up 14% from 2Q 2024). Profit margin: 28% (up from 26% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Banks industry in South America. Declared Dividend • Jul 14
First quarter dividend of US$1.70 announced Shareholders will receive a dividend of US$1.70. Ex-date: 15th July 2025 Payment date: 5th August 2025 Dividend yield will be 2.7%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (45% payout ratio) and is expected to be well covered in 3 years' time (41% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Mex$3,682, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 7x in the Banks industry in South America. Total returns to shareholders of 28% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$2,434 per share. Announcement • Jul 04
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend, Payable on August 5, 2025 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.70 per share, an increase of $0.10 cents per share, or 6%, from the second quarter dividend of $1.60 per share. The dividend will be payable Aug. 5, 2025, to shareholders of record at the close of business July 15, 2025. Announcement • Apr 15
The PNC Financial Services Group, Inc. Reports Unaudited Net Loan Charge-Offs for the First Quarter Ended March 31, 2025 The PNC Financial Services Group, Inc. reported unaudited net loan charge-offs for the first quarter ended March 31, 2025. For the quarter, the company reported net loan charge-offs were $205 million compared to $243 million a year ago. Announcement • Apr 09
The Pnc Financial Services Group, Inc. and Pnc Bank, National Association Appoints Mark Wiedman as President, Effective April 7, 2025 The PNC Financial Services Group, Inc. announced that its Board of Directors has unanimously appointed Mark Wiedman, age 54 as president of the corporation and its wholly owned banking subsidiary, PNC Bank, National Association, effective immediately. Wiedman will report to PNC Chairman and Chief Executive Officer William S. Demchak. PNC's primary operating lines of business and the Regional Presidents Office will report to Wiedman. Wiedman was previously senior managing director at BlackRock and a member of the Global Executive Committee. He played a key role in driving organic growth and business transformation, while leading strategic initiatives both within and beyond the firm. Wiedman was most recently the head of the Global Client Business responsible for BlackRock's $11 trillion in commercial relationships, partnerships, and joint ventures across financial institutions and investors worldwide. Prior to that, he was global head of iShares and Index Investments and drove its growth from $500 billion to $1.7 trillion. Wiedman built his early career at BlackRock advising on capital markets and balance sheet issues, joining in 2004 to help start Financial Markets Advisory. He later led BlackRock's emergency assistance to governments and financial institutions during the financial crisis. Wiedman also led BlackRock's 2008 creation of Penny Mac and served on its board from 2008-2019. Before joining BlackRock, he was senior advisor to the Under Secretary for Domestic Finance at the U.S. Treasury. Declared Dividend • Apr 06
Fourth quarter dividend of US$1.60 announced Shareholders will receive a dividend of US$1.60. Ex-date: 16th April 2025 Payment date: 5th May 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (46% payout ratio) and is expected to be well covered in 3 years' time (38% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 04
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on May 5, 2025 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.60 per share. The dividend will be payable May 5, 2025, to shareholders of record at the close of business April 16, 2025. Recent Insider Transactions • Mar 14
Chairman & CEO recently sold Mex$4.5m worth of stock On the 7th of March, William Demchak sold around 1k shares on-market at roughly Mex$3,628 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was William's only on-market trade for the last 12 months. Announcement • Mar 05
The PNC Financial Services Group, Inc., Annual General Meeting, Apr 23, 2025 The PNC Financial Services Group, Inc., Annual General Meeting, Apr 23, 2025. Announcement • Feb 04
The PNC Financial Services Group, Inc. Appoints Douglas Dachille to Board of Directors The PNC Financial Services Group, Inc. appointed Douglas Dachille to its board of directors effective February 3, 2025. He has also been appointed to the board's risk committee. Dachille served as chief investment officer of American International Group Inc. (AIG) from 2015 until 2021. He joined AIG through its acquisition of First Principles Capital Management, an institutional fixed income asset manager, which he co-founded and led as chief executive officer. Prior to First Principles, he served as president and chief operating officer of Zurich Capital Markets. Dachille began his career at JPMorgan Chase, where he was global head of proprietary trading and co-treasurer. Dachille serves on the boards of Equitable Holdings, Inc. and BridgeBio Pharma, Inc. He received a B.S. in a special joint biomedical education program through Union University and Albany Medical College. He also received an M.B.A. in finance from the University of Chicago. Announcement • Jan 23
President Michael P. Lyons to Depart The PNC Financial Services Group, Inc The PNC Financial Services Group, Inc. announced that President Michael P. Lyons is departing PNC to assume the President & CEO-Elect role at Fiserv. Lyons joined PNC in 2011 to serve as head of Corporate & Institutional Banking and was named president in 2024. Reported Earnings • Jan 17
Full year 2024 earnings released: EPS: US$13.86 (vs US$12.78 in FY 2023) Full year 2024 results: EPS: US$13.86 (up from US$12.78 in FY 2023). Revenue: US$20.8b (flat on FY 2023). Net income: US$5.53b (up 7.9% from FY 2023). Profit margin: 27% (up from 25% in FY 2023). Net interest margin (NIM): 2.66% (down from 2.76% in FY 2023). Cost-to-income ratio: 63.0% (down from 65.0% in FY 2023). Non-performing loans: 0.73% (up from 0.68% in FY 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Announcement • Jan 16
The PNC Financial Services Group, Inc. Reports Unaudited Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2024 The PNC Financial Services Group, Inc. reported unaudited net loan charge-offs for the fourth quarter ended December 31, 2024. For the quarter, the company reported net loan charge-offs were $250 million compared to $200 million a year ago. Declared Dividend • Jan 13
Third quarter dividend of US$1.60 announced Shareholders will receive a dividend of US$1.60. Ex-date: 15th January 2025 Payment date: 5th February 2025 Dividend yield will be 2.2%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (53% payout ratio) and is expected to be covered in 3 years' time (39% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 03
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable February 5, 2025 The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.60 per share. The dividend will be payable February 5, 2025, to shareholders of record at the close of business January 15, 2025. Recent Insider Transactions • Nov 14
Independent Lead Director recently sold Mex$129m worth of stock On the 11th of November, Andrew Feldstein sold around 30k shares on-market at roughly Mex$4,294 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$183m more than they bought in the last 12 months. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: US$3.50 (vs US$3.60 in 3Q 2023) Third quarter 2024 results: EPS: US$3.50 (down from US$3.60 in 3Q 2023). Revenue: US$5.19b (up 1.7% from 3Q 2023). Net income: US$1.40b (down 3.1% from 3Q 2023). Profit margin: 27% (down from 28% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 3% per year. Recent Insider Transactions • Oct 30
Independent Director recently sold Mex$3.2m worth of stock On the 22nd of October, Martin Pfinsgraff sold around 859 shares on-market at roughly Mex$3,703 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$37m. Insiders have been net sellers, collectively disposing of Mex$54m more than they bought in the last 12 months. Declared Dividend • Oct 07
Second quarter dividend of US$1.60 announced Shareholders will receive a dividend of US$1.60. Ex-date: 16th October 2024 Payment date: 5th November 2024 Dividend yield will be 2.3%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (40% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 04
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend on the Common Stock, Payable November 5, 2024 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.60 per share. The dividend will be payable November 5, 2024, to shareholders of record at the close of business October 16, 2024. Announcement • Sep 10
the Pnc Financial Services Group, Inc. Announces Chief Administrative Officer Changes PNC Financial Services Group Inc. on announced a big change to its C-suite. Gregory Jordan will retire as general counsel and chief administrative officer, effective September 25, 2024. His successor is Laura Long, who has served as deputy GC since 2013, the year Jordan joined Pittsburgh's biggest bank from Reed Smith LLP, the region's larger law firm, where he was in his fifth term as global managing partner. Jordan will stay on as vice chairman, serving in an advisory role to PNC's board and to Bill Demchak, chairman and CEO. Long will report to Demchak and oversee the legal department and Corporate Ethics office. She joined PNC in 2006 and previously was a corporate associate at the Los Angeles offices of major law firms Fried Frank Harris Shriver & Jacobson LLP and Bingham McCutchen LLP. During Jordan's tenure, he provided counsel on numerous legal matters and transactions, such as the 2021 purchase of BBVA USA in a $11.6 billion deal and the sale of PNC's stake in Black Rock the year before that enabled it to pay cash in the transformative acquisition that took the bank coast-to-coast. As CAO, Jordan oversaw multiple areas such as corporate communications and marketing, the PNC Foundation, Enterprise Change Office and Regional Presidents Office. Jordan and Demchak talked about his plan to retire last fall. Jordan also will continue in two key roles in corporate Pittsburgh, serving on the boards of MSA Safety and of Highmark Health. He's vice chair at the latter. Recent Insider Transactions • Aug 03
Key Executive recently sold Mex$37m worth of stock On the 31st of July, Michael Lyons sold around 11k shares on-market at roughly Mex$3,380 per share. This transaction amounted to 5.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Reported Earnings • Jul 17
Second quarter 2024 earnings released: EPS: US$3.41 (vs US$3.36 in 2Q 2023) Second quarter 2024 results: EPS: US$3.41 (up from US$3.36 in 2Q 2023). Revenue: US$5.18b (flat on 2Q 2023). Net income: US$1.36b (up 1.1% from 2Q 2023). Profit margin: 26% (in line with 2Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 13
First quarter dividend of US$1.60 announced Shareholders will receive a dividend of US$1.60. Ex-date: 15th July 2024 Payment date: 5th August 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (52% payout ratio) and is expected to be covered in 3 years' time (41% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on August 5, 2024 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.60 per share, an increase of $0.05 cents per share, or 3%, from the second quarter dividend of $1.55 per share. The dividend will be payable August 5, 2024, to shareholders of record at the close of business July 15, 2024. Announcement • Jun 29
The PNC Financial Services Group, Inc. Releases Results of Dodd-Frank Company-Run Stress Test The PNC Financial Services Group, Inc. announced the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governor of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether banking organizations have sufficient capital to absorb losses and support operations during hypothetical severely adverse economic conditions over a nine-quarter projection period. The projection period for the 2024 test covers Jan. 1, 2024 to March 31, 2026. These results are the product of a forward-looking regulatory exercise using hypothetical macroeconomic assumptions and, as such, these results do not represent a forecast of PNC's future capital levels or anticipated economic conditions. The supervisory severely adverse scenario for the 2024 company-run stress test was released by the Federal Reserve and OCC Feb.15, 2024. The scenario is characterized by a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets. The Basel III risk-based ratios were determined using the Standardized Approach for risk weights included in the Basel III rules. Announcement • Apr 03
The PNC Financial Services Group, Inc. Declares Quarterly Cash Dividend, Payable on May 5, 2024 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.55 per share. The dividend, with a payment date of May 5, 2024, will be payable the next business day to shareholders of record at the close of business April 15, 2024. Announcement • Mar 14
PNC Bank Announces Executive Changes PNC Bank announced that Michael Thomas has been named head of Corporate & Institutional Banking (C&IB), effective immediately. Based in Pittsburgh, Thomas will report to Michael P. Lyons, president. Thomas succeeds Lyons in the role, after Lyons was appointed president Feb. 20, 2024. During his 27-year career at PNC, Thomas has held progressive leadership roles in Debt Capital Markets and Real Estate Banking. Since 2020, he has served as head of PNC's Real Estate business, where he has played a key role in accelerating technology investments at PNC's Midland Loan Services unit, integrating BBVA USA, driving PNC's affordable housing and tax credit investments business and leading Real Estate Banking through a challenging market environment. In 2023, Thomas also assumed responsibility for the Corporate Strategy group, supporting the research, planning and execution of strategic initiatives across PNC's three lines of business. Prior to joining PNC, Thomas worked at JPMorgan Chase. He is a graduate of Yale University. Announcement • Mar 06
The PNC Financial Services Group, Inc., Annual General Meeting, Apr 24, 2024 The PNC Financial Services Group, Inc., Annual General Meeting, Apr 24, 2024, at 11:00 US Eastern Standard Time. Announcement • Feb 20
The PNC Financial Services Group and PNC Bank, National Association Appoint Michael P. Lyons as President The PNC Financial Services Group announced that its Board of Directors has unanimously appointed Michael P. Lyons president of the corporation and its wholly owned banking subsidiary, PNC Bank, National Association, effective immediately. Lyons will report to William S. Demchak who will continue in his current roles as Chairman and Chief Executive Officer of the corporation. PNC's primary operating lines of business and the Regional Presidents Office will report to Lyons. Lyons, 53, has been an Executive Vice President and Head of Corporate & Institutional Banking (C&IB) since he joined PNC in October 2011. During his tenure, Lyons helped lead PNC's strategic acquisitions of RBC Bank (USA) (2012) and BBVA USA (2021) and spearheaded the national expansion of the company's corporate businesses. Lyons has also been instrumental in building out PNC's treasury management platform and expanding its suite of advisory capabilities and industry verticals. Prior to PNC, Lyons served as global head of corporate development and strategic planning for Bank of America. As part of his responsibilities, Lyons helped reposition Bank of America's balance sheet and drive its growth strategy. He also led mergers and acquisitions, the private equity business, and investor relations for Bank of America. Previously, he served as a portfolio manager at investment advisor Maverick Capital where he focused on financial institutions globally. Lyons is a national trustee of the Boys & Girls Clubs of America, and currently serves as the board chair for the Pittsburgh Parks Conservancy. He is also a member of the board of directors of the University of Pittsburgh Medical Center (UPMC) and serves as chair of the Early Warnings Systems, LLC Management Committee. Lyons graduated from the University of Pennsylvania in 1993. Recent Insider Transactions • Dec 06
Insider recently sold Mex$3.5m worth of stock On the 30th of November, Deborah Guild sold around 2k shares on-market at roughly Mex$2,300 per share. This transaction amounted to 8.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought Mex$9.4m more than they sold in the last 12 months. Announcement • Nov 10
PNC Bank Appoints Kelly Mcqueen as Twin Cities Regional President PNC Bank announced the appointment of Kelly McQueen as Twin Cities regional president. She is to take over from Kate Kelly, who is retiring from the firm. McQueen is to also function as head of Corporate Banking for Minnesota. Kelly had been with the firm for six years and has more than 30 years of experience. Announcement • Oct 05
Pnc Declares Quarterly Cash Dividend on the Common Stock, Payable Nov. 5, 2023 The board of directors of The PNC Financial Services Group, Inc. The declared a quarterly cash dividend on the common stock of $1.55 per share. The dividend, with a payment date of Nov. 5, 2023, will be payable the next business day to shareholders of record at the close of business Oct. 17, 2023. Announcement • Aug 19
PNC Promotes Zachary Bullock to Senior Vice President and Market Leader for Commercial Banking in Central Pennsylvania PNC has announced the appointment of an official to oversee its commercial banking operations. The firm has promoted Zachary Bullock to senior vice president and market leader for Commercial Banking in Central Pennsylvania. In the position, Bullock is to oversee the firm's commercial banking team. Announcement • Jul 25
The PNC Financial Services Group, Inc. Appoints Monica L. Burch as Community Development Banking Executive for Southeast The PNC Financial Services Group, Inc. appointed Monica L. Burch as Community Development, Banking Executive for Southeast encompassing the states of Alabama, Florida, Georgia, the Carolinas, Maryland, Tennessee, Virginia and the District of Columbia. Burch brings more than 20 years of professional banking experience to the role she will assume from Thurman "Tony" Smith, who previously led PNC's community development and lending strategies for both the Southeast and Midwest markets. In her new role, she will be responsible for leading the regional implementation of PNC's $88 Billion Community Benefits Plan that began in January 2022 and continues for four years. Prior to her appointment as southeast territory executive, Burch held several senior leadership positions within PNC including most recently as senior vice president and Community Development Banking market manager for the Philadelphia, Delaware and Southern New Jersey (PDSJ) markets. She also served for 13 years as a commercial credit underwriter with PNC's Commercial Banking team, where she focused on middle-market companies with revenues up to $500 million and nonprofit organizations with up to $29 million in assets. Announcement • Jul 04
The PNC Financial Services Group, Inc. Announces Quarterly Cash Dividend, Payable on August 5, 2023 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.55 per share, an increase of $0.05 cents per share, or 3%, from the second quarter dividend of $1.50 per share. The dividend, with a payment date of August 5, 2023, will be payable the next business day to shareholders of record at the close of business July 17, 2023. Announcement • Jun 07
The PNC Financial Services Group, Inc. Names Jenn Garbach as its Chief Marketing Officer The PNC Financial Services Group, Inc. announced that Jenn Garbach has been appointed as its chief marketing officer. In her new role, Garbach will lead a team of 200 marketing professionals focused on brand and line of business marketing, paid and social media, direct marketing and all digital marketing strategies. She will also oversee the bank's relationship with Arnold Worldwide, which was recently announced as PNC's integrated marketing and advertising agency of record. Garbach will be based out of PNC's Washington D.C. office and will report to Amanda Rosseter, PNC's chief communications and brand officer. Garbach had previously served as the head of Marketing Transformation Operations at PayPal. Prior to joining PayPal, she spent a decade with Capital One, where she held a number of leadership positions, including as director of Customer Strategy, senior director of Digital Product Management Product Marketing Management, vice president, Small Business Card Brand Acquisition Marketing, and vice president, Consumer Card Marketing Customer Analytics. A diversified financial services institution in the United States, The PNC Financial Services Group, Inc. provides its customers and communities with retail and business banking solutions, including a full range of lending products; specialised services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Announcement • May 20
the Pnc Financial Services Group, Inc. Announces Toni Townes-Whitley Resigns from the Board of Directors, Effective June 30, 2023 On May 15, 2023, Toni Townes-Whitley provided The PNC Financial Services Group, Inc. (“PNC”) with notice of her resignation from the Board of Directors of PNC, effective June 30, 2023, in light of her recent appointment as chief executive officer of Science Applications International Corp. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$3.99 (vs US$3.23 in 1Q 2022) First quarter 2023 results: EPS: US$3.99 (up from US$3.23 in 1Q 2022). Revenue: US$5.37b (up 9.6% from 1Q 2022). Net income: US$1.60b (up 18% from 1Q 2022). Profit margin: 30% (up from 28% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Banks industry in Mexico. Recent Insider Transactions • Apr 27
Independent Director recently bought Mex$2.2m worth of stock On the 21st of April, Joseph Alvarado bought around 1k shares on-market at roughly Mex$2,231 per share. This transaction increased Joseph's direct individual holding by 8x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth Mex$2.4m. Despite this recent purchase, insiders have collectively sold Mex$6.1m more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to Mex$2,235, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in Mexico. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,809 per share. Recent Insider Transactions • Jan 26
Chairman recently bought Mex$19m worth of stock On the 20th of January, William Demchak bought around 7k shares on-market at roughly Mex$2,902 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months. Reported Earnings • Jan 20
Full year 2022 earnings released: EPS: US$13.92 (vs US$12.70 in FY 2021) Full year 2022 results: EPS: US$13.92 (up from US$12.70 in FY 2021). Revenue: US$20.6b (up 3.3% from FY 2021). Net income: US$5.74b (up 6.0% from FY 2021). Profit margin: 28% (in line with FY 2021). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Banks industry in Mexico. Announcement • Jan 05
The PNC Financial Services Group, Inc. Declares Quarterly Dividend, Payable on Feb. 5, 2023 The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $1.50 per share. The dividend, with a payment date of Feb. 5, 2023, will be payable the next business day to shareholders of record at the close of business Jan. 17, 2023. Reported Earnings • Aug 03
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: US$5.08b (up 16% from 2Q 2021). Net income: (down US$1.04b from profit in 2Q 2021). Profit margin: 0% (down from 24% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.3%, compared to a 26% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 07
Executive VP recently sold Mex$4.4m worth of stock On the 3rd of May, Deborah Guild sold around 1k shares on-market at roughly Mex$3,465 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$21m. Insiders have been net sellers, collectively disposing of Mex$88m more than they bought in the last 12 months. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$3.23 (vs US$4.11 in 1Q 2021) First quarter 2022 results: EPS: US$3.23 (down from US$4.11 in 1Q 2021). Revenue: US$4.90b (up 2.7% from 1Q 2021). Net income: US$1.36b (down 23% from 1Q 2021). Profit margin: 28% (down from 37% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.4%, compared to a 30% growth forecast for the industry in Mexico. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS US$3.31 (vs US$3.40 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$5.40b (up 28% from 3Q 2020). Net income: US$1.41b (down 2.7% from 3Q 2020). Profit margin: 26% (down from 34% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS US$2.43 (vs US$1.95 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$4.37b (up 171% from 2Q 2020). Net income: US$1.04b (up US$1.87b from 2Q 2020). Profit margin: 24% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 08
Upcoming dividend of US$1.25 per share Eligible shareholders must have bought the stock before 15 July 2021. Payment date: 05 August 2021. Trailing yield: 2.7%. Lower than top quartile of Mexican dividend payers (5.1%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 20% share price gain to US$3,684, the stock is trading at a trailing P/E ratio of 27.5x, up from the previous P/E ratio of 22.9x. This compares to an average P/E of 9x in the Banks industry in Mexico. 
