News

For the quarter ended June 2024, The PNC Financial Services Group, Inc (PNC) reported revenue of $5.41 billion, up 2.2% over the same period last year. EPS came in at $3.30, compared to $3.36 in the year-ago quarter.

The reported revenue represents a surprise of +2.08% over the Zacks Consensus Estimate of $5.3 billion. With the consensus EPS estimate being $3.00, the EPS surprise was +10.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how The PNC Financial Services Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Efficiency ratio: 62% compared to the 63.9% average estimate based on seven analysts.
• Net interest margin: 2.6% compared to the 2.6% average estimate based on seven analysts.
• Total interest-earning assets - Average balance: $511.62 billion versus $512.45 billion estimated by seven analysts on average.
• Book value per common share: $116.70 versus the seven-analyst average estimate of $115.88.
• Total nonperforming assets: $2.54 billion versus the six-analyst average estimate of $2.52 billion.
• Net charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on six analysts.
• Total nonperforming loans: $2.50 billion versus $2.51 billion estimated by four analysts on average.
• Tier 1 risk-based ratio: 11.6% compared to the 11.5% average estimate based on three analysts.
• Leverage Ratio: 8.9% compared to the 8.9% average estimate based on three analysts.
• Total capital risk-based: 13.5% versus 13.3% estimated by two analysts on average.
• Total Noninterest Income: $2.11 billion compared to the $1.96 billion average estimate based on seven analysts.
• Net interest income - FTE: $3.34 billion versus the seven-analyst average estimate of $3.27 billion.

View all Key Company Metrics for The PNC Financial Services Group here>>>

Shares of The PNC Financial Services Group have returned +10.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.