earnings
confidence high
sentiment positive
materiality 0.65
PNC Q2 net income $1.5B, EPS $3.39; raises dividend to $1.60/share
PNC FINANCIAL SERVICES GROUP, INC.
2024-Q2 EPS reported
$6.48
revenue$10,556,000,000
- Net income $1.5B, diluted EPS $3.39; generated positive operating leverage with PPNR up 13% QoQ.
- Revenue $5.4B (+5% QoQ); NII $3.3B, NIM 2.60% (up from 2.57% in Q1).
- Increased quarterly common stock dividend $0.05 to $1.60 per share (effective July 2, 2024).
- Average loans stable at $319.9B, deposits $417.2B; CET1 ratio 10.2%.
- Net charge-offs $262M (0.33% annualized) vs $243M in Q1; provision for credit losses $235M.