PNC Financial (PNC) AI Stock Analysis

• Market Cap: $90.77B
• Dividend Yield: 3.11%
• Average Volume (3M): 2.73M
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.95
• Revenue Growth: 1.79%
• EPS Growth: 30.93%
• Country: US
• Employees: 53,686
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 4.88
• Shares Outstanding: 390,000,000
• 10 Day Avg. Volume: 2,025,176
• 30 Day Avg. Volume: 2,728,644
• PEG Ratio: 0.57
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 2.62
• P/FCF Ratio: 8.70
• Enterprise Value/Market Cap: 1.52
• Enterprise Value/Revenue: 4.07
• Enterprise Value/Gross Profit: 6.19
• Enterprise Value/Ebitda: 16.12
• 1Y Price Target: $253.43
• Price Target Upside: 14.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): 18.2
• Revenue Forecast (FY): $25.73B

• Rating: 72 Outperform
• Price Target: $256.00 ▲(15.96% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is led by constructive technical trends and supportive valuation, reinforced by upbeat 2026 guidance and ongoing buybacks. The main drag is financial-statement quality—particularly the latest-period cash flow recorded as zero and a 2025 revenue decline—alongside near-term integration and credit headwinds.

Positive Factors

Capital Return Capacity

Sustained large buybacks and material dividend payouts reflect persistent excess capital generation and disciplined capital allocation. Over the medium term this supports shareholder returns and signals management confidence in recurring earnings and regulatory capital flexibility, enhancing long-term investor trust.

Improving Leverage and Capital

Marked deleveraging and a stronger equity base improve solvency and resilience to shocks, enabling continued lending and investment. A healthier leverage profile and mid-teens ROE area support sustainable franchise economics and lower sensitivity to funding stress over the coming quarters.

Accretive Strategic Acquisition

The FirstBank acquisition expands presence in high-growth Western markets and is modeled as accretive with a high IRR, supporting durable revenue diversification and scale benefits. If integration and cross-sell are executed, this structurally enhances growth runway and franchise value beyond near-term noise.

Negative Factors

Cash-Flow Visibility

A reported $0 operating and free cash flow for the latest period materially impairs visibility into cash generation. Even if accounting or timing factors explain it, persistent ambiguity weakens confidence in the durability of free cash to fund buybacks, dividends, or meet stress scenarios over the medium term.

Top-Line Inconsistency

A material revenue decline in 2025 after prior growth indicates the bank's top-line is sensitive to rate, mortgage, and fee volatility. Sustained inconsistency complicates margin planning and operating-leverage targets, increasing execution risk in delivering multi-year revenue growth and profit stability.

Integration Costs and Capital Impact

Significant one-time integration charges and a near-term CET1 hit from the acquisition reduce regulatory cushion and press expense in 2026. These structural burdens raise the bar for accretion, constrain near-term capital flexibility, and increase execution risk around meeting projected returns and buyback guidance.

PNC Financial Business Overview & Revenue Model

Company Description

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. This segment serves consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. Its Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services, and access to online/mobile information management and reporting; foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The company's Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services for ultra high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients. The company has 2,591 branches and 9,502 ATMs. The company was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania.

How the Company Makes Money

PNC generates revenue primarily through interest income from loans, fees from various banking services, and investment income. Key revenue streams include interest earned on commercial and consumer loans, mortgage origination fees, and service charges on deposit accounts. Additionally, PNC benefits from wealth management fees and asset management services. The bank has established significant partnerships, including collaborations with fintech companies, which enhance its service offerings and customer reach. Market factors such as interest rate fluctuations and economic conditions also play a critical role in influencing its overall earnings.

PNC Financial Financial Statement Overview

Summary

Profitability and returns are solid and leverage improved (debt-to-equity down; ROE ~11.4%), but 2025 revenue contraction and especially the latest-period cash flow showing operating/FCF recorded as $0 materially reduce confidence in near-term cash-generation visibility.

Income Statement

Profitability strengthened in 2025 with higher operating and net margins versus 2024, and net income rose (2025: $6.9B vs. 2024: $5.9B). However, revenue contracted in 2025 (-7.28% YoY) after modest growth in 2024, indicating a less consistent top-line trajectory. Longer-term margins remain solid, but they have not fully returned to the unusually strong levels shown in 2020–2022.

Balance Sheet

Leverage improved meaningfully: debt-to-equity declined to ~0.94 in 2025 from ~1.13 in 2024 (and higher in 2022–2023), while equity increased to $60.6B. Returns on equity stayed healthy (~11.4% in 2025), supporting balance-sheet earning power. The key watch item is still the absolute debt load ($57.1B) and the historically higher leverage profile in prior years, which suggests sensitivity if profitability or funding conditions weaken.

Cash Flow

Cash flow quality is difficult to underwrite in the latest period because 2025 shows operating cash flow and free cash flow recorded as $0 (with -100% free cash flow growth and 0% cash conversion). In prior years, the company generated sizable cash flow (e.g., 2024 operating/free cash flow of $7.9B), so the 2025 figures likely reflect volatility or reporting classification effects; regardless, the most recent data point is a clear red flag for near-term cash generation visibility.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	31.34B	33.69B	31.90B	23.54B	19.70B
Gross Profit	22.46B	20.01B	20.75B	20.64B	19.99B
EBITDA	8.58B	7.50B	6.95B	8.12B	8.76B
Net Income	6.94B	5.89B	5.58B	6.04B	5.67B
Balance Sheet
Total Assets	573.57B	560.04B	561.58B	557.26B	557.19B
Cash, Cash Equivalents and Short-Term Investments	39.71B	55.64B	92.51B	78.52B	213.79B
Total Debt	57.10B	61.67B	72.74B	58.71B	33.00B
Total Liabilities	512.94B	505.57B	510.44B	511.45B	501.46B
Stockholders Equity	60.59B	54.42B	51.10B	45.77B	55.70B
Cash Flow
Free Cash Flow	9.45B	7.88B	10.11B	9.08B	7.21B
Operating Cash Flow	9.45B	7.88B	10.11B	9.08B	7.21B
Investing Cash Flow	-20.68B	-3.23B	10.11B	-60.36B	-2.79B
Financing Cash Flow	4.70B	-9.12B	-3.85B	3.38B	-3.43B

PNC Financial Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 220.77
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNC, the sentiment is Neutral. The current price of 220.77 is below the 20-day moving average (MA) of 230.85, above the 50-day MA of 220.06, and above the 200-day MA of 194.52, indicating a neutral trend. The MACD of 2.99 indicates Positive momentum. The RSI at 42.67 is Neutral, neither overbought nor oversold. The STOCH value of 22.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PNC.

PNC Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
USB	78 Outperform	$91.34B	12.73	12.18%	3.77%	2.91%	33.77%
FITB	74 Outperform	$48.91B	15.19	12.20%	3.14%	0.15%	11.62%
MTB	74 Outperform	$35.62B	13.63	9.77%	2.76%	-0.81%	20.34%
PNC	72 Outperform	$90.77B	14.03	11.99%	3.11%	1.79%	30.93%
TFC	72 Outperform	$67.40B	13.79	8.24%	4.12%	22.02%	―
HBAN	69 Neutral	$36.31B	12.90	10.03%	3.50%	5.73%	38.39%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

PNC Financial Corporate Events

PNC Financial Completes $3 Billion Multi-Tranche Debt Offering

On January 26, 2026, The PNC Financial Services Group, Inc. completed a multi-tranche public debt offering totaling $3 billion, consisting of $1.5 billion of 5.423% Fixed-Rate Reset Subordinated Notes due 2041, $1.2 billion of 4.075% Fixed Rate/Floating Rate Senior Notes due 2029, and $300 million of Senior Floating Rate Notes due 2029. The notes were sold in underwritten offerings led by PNC Capital Markets, Goldman Sachs and J.P. Morgan, and were issued under existing indenture frameworks with The Bank of New York Mellon as trustee, reinforcing PNC’s access to capital markets and adding long-dated subordinated and senior funding that can support its regulatory capital structure and overall funding profile.

The most recent analyst rating on (PNC) stock is a Buy with a $271.00 price target. To see the full list of analyst forecasts on PNC Financial stock, see the PNC Stock Forecast page.

PNC Financial Posts Record 2025 Results, Closes FirstBank Deal

On January 16, 2026, PNC reported that it delivered record results for full-year 2025, with net income of $7.0 billion, or $16.59 per diluted share, driven by record total revenue underpinned by record net interest income and record noninterest (fee) income, alongside 5% positive operating leverage and well-controlled expenses. The bank increased loans and deposits in 2025, with total average loans up 3% and total average deposits up 3% year over year, while improving capital and liquidity, maintaining strong credit quality with a low 0.20% net loan charge-off ratio, and boosting tangible book value per share by 18%; it also closed the $4.2 billion acquisition of FirstBank on January 5, 2026, which is expected to support accelerated growth in targeted markets and further strengthen PNC’s competitive position.

The most recent analyst rating on (PNC) stock is a Buy with a $240.00 price target. To see the full list of analyst forecasts on PNC Financial stock, see the PNC Stock Forecast page.

PNC Financial completes FirstBank acquisition and preferred issuance

On January 5, 2026, PNC Financial Services Group completed its acquisition of FirstBank Holding Company and its banking subsidiary FirstBank, after receiving all required regulatory approvals and satisfying customary closing conditions, in a deal that expands PNC’s presence in high‑growth markets in Colorado and Arizona and advances its national expansion strategy. In connection with the merger, PNC established a new 7.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series X, authorized for 200,000 shares and issued 115,200 shares to former holders of FirstBank’s Series B preferred stock, positioning the new Series X stock senior to common equity in dividends and liquidation and aligning FirstBank investors with PNC’s capital structure, while PNC begins integrating FirstBank onto its national platform with customer conversion targeted for the summer of 2026.

The most recent analyst rating on (PNC) stock is a Buy with a $271.00 price target. To see the full list of analyst forecasts on PNC Financial stock, see the PNC Stock Forecast page.

PNC Financial Receives Approval for FirstBank Acquisition

On December 12, 2025, PNC Financial Services Group announced it received regulatory approvals to complete its acquisition of FirstBank Holding Company, with the transaction expected to close on January 5, 2026. This acquisition marks a significant milestone for PNC, expanding its presence in the Rocky Mountain region and the Southwest, and integrating FirstBank’s operations into PNC’s national platform, enhancing its treasury management, payments, and digital banking capabilities.

The most recent analyst rating on (PNC) stock is a Buy with a $240.00 price target. To see the full list of analyst forecasts on PNC Financial stock, see the PNC Stock Forecast page.