PNC Financial Q2 revenue beats on robust capital markets activity

PNC Financial Services group

15/07/2026 11:45

Overview
U.S. bank's Q2 revenue rose 21% yr/yr, beating analyst expectations
Adjusted EPS was $4.85
Company raised quarterly dividend 18% and completed FirstBank integration

Outlook
PNC expects third-quarter share repurchase activity to match second-quarter levels
PNC says strong capital position and FirstBank integration support future performance

Result Drivers
COMMERCIAL LOAN GROWTH - Net interest income rose 4% from Q1, driven by commercial loan growth and higher noninterest-bearing deposit balances
CAPITAL MARKETS ACTIVITY - Fee income rose 10% from Q1, led by record capital markets and advisory revenue
VISA EXCHANGE GAIN - Noninterest income included a $448 mln gain from participation in the Visa exchange program, partly offset by securities losses and derivative adjustments

Company press release: ID:nPn2vx91Ra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$6.88 bln
$6.50 bln (17 Analysts)
Q2 EPS
 
$4.81
 
Q2 Net Income
 
$2.06 bln
 
Q2 Net Interest Income
Meet
$4.11 bln
$4.11 bln (10 Analysts)
Q2 Adjusted Net Interest Margin
 
2.96%
 
Q2 CET1 Capital Ratio
 
9.90%
 
Q2 Provision for Credit losses
 
$191 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 6 "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 $266.00, about 5.6% above its July 14 closing price of $251.88
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 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.)