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The PNC Financial Services Group, Inc (PNC) Reports Q3 Earnings: What Key Metrics Have to Say
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The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.23 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.7%. EPS of $3.60 for the same period compares to $3.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.31 billion, representing a surprise of -1.36%. The company delivered an EPS surprise of +13.21%, with the consensus EPS estimate being $3.18.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc 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 63.1% average estimate based on seven analysts.
Net interest margin: 2.7% compared to the 2.7% average estimate based on seven analysts.
Total interest-earning assets - Average balance: $506.30 billion versus $502.86 billion estimated by seven analysts on average.
Net charge-offs to average loans: 0.2% versus the six-analyst average estimate of 0.3%.
Total nonperforming assets: $2.16 billion versus the six-analyst average estimate of $2.13 billion.
Total nonperforming loans: $2.12 billion compared to the $2.17 billion average estimate based on four analysts.
Leverage Ratio: 8.9% versus 8.9% estimated by three analysts on average.
Tier 1 risk-based ratio: 11.5% compared to the 11.3% average estimate based on three analysts.
Total capital risk-based: 13.3% versus 13.2% estimated by two analysts on average.
Net interest income - FTE: $3.45 billion versus the seven-analyst average estimate of $3.42 billion.
Total Noninterest Income: $1.82 billion compared to the $1.91 billion average estimate based on seven analysts.
Capital markets and advisory: $168 million versus the six-analyst average estimate of $221.65 million.
Shares of The PNC Financial Services Group, Inc have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.4% 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.
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The PNC Financial Services Group, Inc (PNC) Reports Q3 Earnings: What Key Metrics Have to Say
The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.23 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.7%. EPS of $3.60 for the same period compares to $3.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.31 billion, representing a surprise of -1.36%. The company delivered an EPS surprise of +13.21%, with the consensus EPS estimate being $3.18.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc 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 63.1% average estimate based on seven analysts.
- Net interest margin: 2.7% compared to the 2.7% average estimate based on seven analysts.
- Total interest-earning assets - Average balance: $506.30 billion versus $502.86 billion estimated by seven analysts on average.
- Net charge-offs to average loans: 0.2% versus the six-analyst average estimate of 0.3%.
- Total nonperforming assets: $2.16 billion versus the six-analyst average estimate of $2.13 billion.
- Total nonperforming loans: $2.12 billion compared to the $2.17 billion average estimate based on four analysts.
- Leverage Ratio: 8.9% versus 8.9% estimated by three analysts on average.
- Tier 1 risk-based ratio: 11.5% compared to the 11.3% average estimate based on three analysts.
- Total capital risk-based: 13.3% versus 13.2% estimated by two analysts on average.
- Net interest income - FTE: $3.45 billion versus the seven-analyst average estimate of $3.42 billion.
- Total Noninterest Income: $1.82 billion compared to the $1.91 billion average estimate based on seven analysts.
- Capital markets and advisory: $168 million versus the six-analyst average estimate of $221.65 million.
View all Key Company Metrics for The PNC Financial Services Group, Inc here>>>Shares of The PNC Financial Services Group, Inc have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.4% 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.