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PNC Financial (PNC) Beats on Q4 Earnings, Revenues Up
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Have you been eager to see how The PNC Financial Services Group, Inc. (PNC - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Pennsylvania-based money center bank’s earnings release this morning:
An Earnings Beat
PNC Financial came out with earnings per share of $1.97, easily beating the Zacks Consensus Estimate of $1.86. Results were aided by increased net interest income and non-interest income, partially offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for PNC Financial depicted bullish stance prior to the earnings release. The Zacks Consensus Estimate increased slightly to $1.86 over the last 7days.
Moreover, PNC Financial has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.7% in the trailing four quarters.
PNC Financial Services Group, Inc. (The) Price and EPS Surprise
PNC Financial posted revenues of $3.87 billion, increasing 1% year over year. The reported figure outpaced the Zacks Consensus Estimate of $3.86 billion.
Key Stats for Q4:
Net Income: $1.05 billion, up 2.9% year over year.
Expenses: $2.44 billion, up 2% from the prior year quarter.
Loans - Commercial lending: $138.0 billion, up 3% year over year.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for PNC Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this PNC Financial earnings report!
The Best Place to Start Your Stock Search
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PNC Financial (PNC) Beats on Q4 Earnings, Revenues Up
Have you been eager to see how The PNC Financial Services Group, Inc. (PNC - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Pennsylvania-based money center bank’s earnings release this morning:
An Earnings Beat
PNC Financial came out with earnings per share of $1.97, easily beating the Zacks Consensus Estimate of $1.86. Results were aided by increased net interest income and non-interest income, partially offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for PNC Financial depicted bullish stance prior to the earnings release. The Zacks Consensus Estimate increased slightly to $1.86 over the last 7days.
Moreover, PNC Financial has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.7% in the trailing four quarters.
PNC Financial Services Group, Inc. (The) Price and EPS Surprise
PNC Financial Services Group, Inc. (The) Price and EPS Surprise | PNC Financial Services Group, Inc. (The) Quote
Revenue Came In Higher Than Expected
PNC Financial posted revenues of $3.87 billion, increasing 1% year over year. The reported figure outpaced the Zacks Consensus Estimate of $3.86 billion.
Key Stats for Q4:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for PNC Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this PNC Financial earnings report!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>