PNC Financial Analysts Increase Their Forecasts After Strong Earnings

The PNC Financial Services Group, Inc. (NYSE:PNC) reported better-than-expected earnings for the second quarter on Wednesday.

The company posted quarterly earnings of $3.85 per share which beat the analyst consensus estimate of $3.53 per share. The company reported quarterly sales of $5.661 billion which beat the analyst consensus estimate of $5.606 billion.

PNC Financial Services said it sees FY 2025 revenue to up by 6% year over year.

Bill Demchak, PNC Chairman and Chief Executive Officer said, “Our national growth strategy continues to deliver results. New customer acquisition is accelerating, while we continue to deepen relationships with our existing customers across businesses. The strength of our franchise resulted in strong loan and revenue growth even through an uncertain macro environment, while expenses remained well controlled. Overall, we had a great quarter.”

PNC Financial shares gained 0.4% to trade at $194.68 on Thursday.

These analysts made changes to their price targets on PNC Financial following earnings announcement.

• B of A Securities analyst Ebrahim Poonawala maintained PNC Financial with a Buy and raised the price target from $223 to $226.
• Morgan Stanley analyst Betsy Graseck maintained the stock with an Underweight rating and raised the price target from $179 to $186.

Considering buying PNC stock? Here’s what analysts think:

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