PNC Financial (PNC)
NYSE:PNC
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PNC Financial
(NYSE:PNC)
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Rating:72Outperform
Price Target:
$231.00
▲(3.48% Upside)
Action:ReiteratedDate: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
Shareholder capital returns
A sustained, multi-quarter buyback program signals durable excess capital generation and management confidence. Regular repurchases lower share count, support EPS growth and provide a reliable component of shareholder returns while the bank executes organic growth and strategic investments.
Negative Factors
Cash-flow visibility concern
A zero reported operating and free cash flow in the latest period undermines clarity around actual cash generation. This creates uncertainty for funding buybacks, capital investments and loss-absorption capacity until underlying classification or timing drivers are reconciled in subsequent reporting.
Read all positive and negative factors
Positive Factors
Negative Factors
Shareholder capital returns
A sustained, multi-quarter buyback program signals durable excess capital generation and management confidence. Regular repurchases lower share count, support EPS growth and provide a reliable component of shareholder returns while the bank executes organic growth and strategic investments.
Read all positive factors
PNC Financial (PNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$90.08B
Dividend Yield3.11%
Average Volume (3M)2.63M
Price to Earnings (P/E)10.2
Beta (1Y)0.96
Revenue Growth1.79%
EPS Growth30.93%
CountryUS
Employees53,686
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)4.88
Shares Outstanding403,512,820
10 Day Avg. Volume1,970,750
30 Day Avg. Volume2,628,821
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)1.36
Price to Sales (P/S)2.62
P/FCF Ratio8.70
Enterprise Value/Market Cap1.56
Enterprise Value/Revenue4.13
Enterprise Value/Gross Profit6.29
Enterprise Value/Ebitda16.37
Forecast
1Y Price Target
$248.97Price Target Upside11.53% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)18.24
Revenue Forecast (FY)$25.75B
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; residen...
How the Company Makes Money
PNC primarily earns revenue from a mix of net interest income and noninterest income. Net interest income is generated by taking deposits and other funding sources and lending or investing those funds, earning interest on loans (e.g., commercial a...
PNC Financial Key Performance Indicators (KPIs)
Any
Deposits
Measures the total amount of client deposits, providing insight into the bank's liquidity and funding base. Strong deposit growth can indicate customer trust and a stable source of low-cost capital.
Measures the total amount of client deposits, providing insight into the bank's liquidity and funding base. Strong deposit growth can indicate customer trust and a stable source of low-cost capital.
Data provided by:
The Fly
The FlyPNC Financial Earnings Call Summary
Earnings Call Date:Jan 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 15, 2026
Earnings Call Sentiment Positive
The earnings call presented a broadly positive outlook: PNC reported record revenue, strong full-year EPS growth (21%), improved tangible book value (+18% YoY), healthy credit metrics, and an accretive strategic acquisition (FirstBank) with clear integration plans. Management provided confident 2026 guidance (loans +8%, total revenue +11%, NII +14%) and a target of ~400 bps positive operating leverage while maintaining aggressive investment in technology and branches. Near-term headwinds include $325M of integration costs, elevated Q1 net charge-off guidance (~$200M), mortgage revenue softness, and execution risk around higher absolute investment spending. On balance, the positive results, strong capital returns, accretive acquisition, and constructive guidance outweigh the manageable lowlights.Positive Updates
Record Full-Year Financial Performance
Net income for FY2025 of $7.0 billion; diluted EPS $16.59, up 21% year-over-year; total revenue up $1.5 billion or 7% vs. 2024; PPNR growth 15% and 5% positive operating leverage for the year.
Negative Updates
Integration and One-Time Costs from FirstBank
Estimated nonrecurring merger and integration costs of ~ $325 million (majority recognized in 2026), representing near-term expense pressure as the businesses are combined.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Financial Performance
Net income for FY2025 of $7.0 billion; diluted EPS $16.59, up 21% year-over-year; total revenue up $1.5 billion or 7% vs. 2024; PPNR growth 15% and 5% positive operating leverage for the year.
Read all positive updates
Company Guidance
PNC guided to strong 2026 growth with full-year average loan growth of ~8%, total revenue up ~11% (net interest income +14%, noninterest income +6%), noninterest expense up ~7% excluding an estimated $325 million of FirstBank integration costs, an effective tax rate of ~19.5% and roughly 400 basis points of positive operating leverage (nearly all on a PNC standalone basis); FirstBank is expected to be fully integrated by year‑end, reduce CET1 by ~40 bps (near‑term CET1 target ~10%), add roughly $1.00 per share to 2027, and drive an IRR of ~25%; quarter‑by‑quarter guidance for Q1 2026 includes average loans up ~5%, NII up ~6%, fee income down 1–2%, other noninterest income $150–200 million, total revenue up 2–3%, noninterest expense (ex‑integration) up ~4%, and first‑quarter net charge‑offs of about $200 million, while capital return is expected to continue with quarterly buybacks of $600–700 million.PNC Financial Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
28
Negative
| 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
Positive
223.23
Price Trends
217.28
Positive
210.91
Positive
200.65
Positive
Market Momentum
1.14
Negative
68.64
Neutral
93.87
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNC, the sentiment is Positive. The current price of 223.23 is above the 20-day moving average (MA) of 206.96, above the 50-day MA of 217.28, and above the 200-day MA of 200.65, indicating a bullish trend. The MACD of 1.14 indicates Negative momentum. The RSI at 68.64 is Neutral, neither overbought nor oversold. The STOCH value of 93.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PNC.
PNC Financial Risk Analysis
PNC Financial disclosed 29 risk factors in its most recent earnings report. PNC Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PNC Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $90.08B | 10.18 | 11.88% | 3.11% | 1.79% | 30.93% | |
69 Neutral | $33.67B | 11.61 | 10.06% | 3.50% | 5.73% | 38.39% | |
69 Neutral | $33.23B | 11.54 | 9.88% | 2.76% | -0.81% | 20.34% | |
69 Neutral | $86.01B | 10.95 | 12.12% | 3.77% | 2.91% | 33.77% | |
68 Neutral | $45.29B | 12.33 | 11.96% | 3.14% | 0.15% | 11.62% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $63.06B | 11.75 | 8.15% | 4.12% | 22.02% | ― |
* Financial Sector Average
PNC
PNC Financial
223.23
76.42
52.05%
TFC
Truist Financial
50.48
16.48
48.46%
FITB
Fifth Third Bancorp
50.22
17.56
53.78%
HBAN
Huntington Bancshares
16.59
4.18
33.66%
MTB
M&T Bank
222.99
69.77
45.53%
USB
US Bancorp
56.33
20.60
57.64%
PNC Financial Corporate Events
Private Placements and Financing
PNC Financial Completes $3 Billion Multi-Tranche Debt Offering
Positive
Jan 26, 2026
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/Fl...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
PNC Financial Posts Record 2025 Results, Closes FirstBank Deal
Positive
Jan 16, 2026
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 (f...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
PNC Financial completes FirstBank acquisition and preferred issuance
Positive
Jan 5, 2026
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 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.