PNC Q1 net interest income just misses estimates

PNC Financial Services

15/04/2026 11:42

Overview

U.S. financial services provider's Q1 revenue missed analyst expectations, net interest income slight miss

Company completed FirstBank acquisition, driving loan and deposit growth

Company repurchased $700 mln of shares in Q1

Outlook

PNC expects Q2 2026 share repurchases of $600 mln to $700 mln

Result Drivers

FIRSTBANK ACQUISITION - Loan and deposit growth, as well as higher expenses, were driven by the addition of FirstBank, which closed in January

NET INTEREST INCOME - NII rose 6% from Q4, reflecting the benefit of FirstBank, lower funding costs and commercial loan growth

FEE INCOME DECLINE - Fee income fell 2%, mainly due to a $31 mln decline in mortgage servicing rights valuation, net of economic hedge, driven by rate volatility

Company press release: ID:nPnc1y2hKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$6.17 bln
$6.24 bln (18 Analysts)
Q1 EPS
$4.13
Q1 Net Income
$1.77 bln
Q1 Net Interest Income
Slight Miss*
$3.96 bln
$3.97 bln (11 Analysts)
Q1 Adjusted Net Interest Margin
2.95%
Q1 CET1 Capital Ratio
10.10%
Q1 Provision for Credit losses
$210 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 7 "hold" and no "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 is $245.00, about 10.8% above its April 14 closing price of $221.20

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)