PNC Posts $4.2B Q3 Net Interest Income
PNC sits 21% above its 52-week low of $176.88 on elevated volume (1.9× avg).
Summary
PNC reported third-quarter net interest income of $4.2 billion, the first hard number from its Q3 release. Net interest income is the core revenue engine for a regional bank this size, so the figure anchors the quarter's profitability. The quarter also brought revenue of $6.56 billion, a net interest margin of 2.94%, EPS of $4.97, adjusted EPS of $5.09, net charge-offs of $257 million, a return on average common equity of 13.89% and a return on average assets of 1.32%. It follows a strong Q2, when PNC earned $2.1 billion ($4.81 EPS) on record revenue of $6.9 billion and raised full-year guidance. The headline gives no comparison to prior periods or consensus, so the read-through depends on how $4.2 billion stacks against expectations. Full Q3 results and any updated guidance will frame whether this sustains the Q2 momentum.
At the time of this announcement, PNC was trading at $214.00 on NYSE in the Finance sector, with a market capitalization of approximately $86.1B. The 52-week trading range was $176.88 to $258.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.