LONDON, May 1, 2015 /PRNewswire/ —
Investor-Edge.com has issued free post-earnings review on The PNC Financial Services Group Inc. (NYSE: PNC). Click on http://get.Investor-Edge.com/pdf/?c=PNC%20Financial%20Services&d=01-May-2015&s=PNC to read our free earnings review on The PNC Financial Services Group Inc. (PNC). On April 15, 2015, the company reported its financial results for Q1 FY15 (period ended March 31, 2015). During Q1 FY15, the company’s total revenue was $3.73 billion. Further, PNC’s net income attributable to diluted common shares came in at $926 million, or $1.75 per common share. Chairman, President and CEO, William S. Demchak, said that PNC delivered solid results in Q1 FY15, continuing the consistent performance that has been characteristic of our strategic execution. Our free coverage report can be accessed at:
During Q1 FY15, PNC’s total revenue fell 1%, or $46 million, from $3.78 billion in Q1 FY14. The company’s total revenue for the reported quarter slightly missed Bloomberg analysts’ total revenue forecast of $3.75 billion. PNC’s net interest income declined 6% to $2.07 billion in Q1 FY15 from $2.20 billion in Q1 FY14. However, in Q1 FY15, the company’s noninterest income grew 5% to $1.66 billion from $1.58 billion in Q1 FY14, driven by strong fee income growth from success in deepening client relationships and product penetration.
For Q1 FY15, PNC’s average loans increased 4% to $205.2 billion from $196.6 billion in Q1 FY14. Commercial lending for Q1 FY15 grew 7% to $129.7 billion from $120.8 billion in Q1 FY14. However, Consumer lending fell 3% to $75.0 billion in Q1 FY15 from $77.4 billion in Q1 FY14. Free research on PNC can be downloaded in PDF format at:
For Q1 FY15, PNC’s net interest margin was 2.82% compared to 3.26% in Q1 FY14. In the reported quarter, PNC’s net income attributable to diluted common shares fell $57 million, or $0.07 per diluted common share, from $983 million, or $1.82 per diluted common share, in Q1 FY14. Analysts from Bloomberg had expected the company to report net income attributable to diluted common shares of $908 million, or $1.75 per diluted common share, in Q1 FY15.
During Q1 FY15, PNC repurchased 4.4 million common shares for $0.4 billion and completed its common stock repurchase program for the four-quarter period that began in Q2 FY14 with total repurchases of 17.3 million common shares for $1.5 billion. In March 2015, the company announced new share repurchase programs of up to $2.88 billion for the five-quarter period beginning in Q2 FY15.
As of December 31, 2014, PNC’s transitional Basel III common equity Tier 1 capital ratio was an estimated 10.4 %, while pro forma fully phased-in Basel III common equity Tier 1 capital ratio was an estimated 9.9 %. Sign up and read the free analyst’s notes on PNC at:
On April 02, 2015, PNC’s board of directors raised the quarterly dividend on common stock to $0.51 per share, an increase of $0.03 per share, or 6%, effective with the May 05, 2015 dividend payment.
On the day of the earnings release, April 15, 2015, PNC’s stock fell 1.52% to end the session at $92.20. Since then, the stock has moved both ways. On the last close, Thursday, April 30, 2015, the company’s shares finished at $91.73, which was 0.14% below the previous day’s closing price of $91.86. The stock vacillated between $91.39 and $92.44 during the trading session. A total of 2.05 million shares were traded which was below their three months average volume of 2.64 million shares. Over the previous three sessions and over the last three months, the company’s shares have gained 1.00% and 8.50%, respectively. Further, the stock has advanced 0.55% since the beginning of 2015. Shares in PNC closed above their 200-day moving average of $87.72. Furthermore, the stock has a Relative Strength Index (RSI) of 47.62. Visit Investor-Edge and access the latest research on PNC at:
Sneak Peek to Corporate Insider Trading
In the last one month, there were 14 insider transactions made by 8 individuals. Between March 31, 2015 and April 20, 2015, a total of 105,303 shares were bought at an average price of $32.21 per share and for a total value of $3.39 million. During the same period, a total of 73,802 shares, worth $6.76 million, were also disposed at an average price of $91.62 per share. The following are some of the abovementioned transactions: William S. Demchak purchased 102,057 shares at an average price of $31.07 per share and disposed 68,000 shares at an average price $91.52 per share; Director at PNC, Jane G. Pepper, bought 2,067 shares at an average price of $53.93 per share and sold 2,000 shares at an average price of $91.65 per share; Director at PNC, Paul W. Chellgren, sold 3,539 shares at an average price of $93.24 per share. Complimentary in-depth research on PNC is available at:
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That’s where Investor-Edge comes in. We provide a single unified platform for investors’ to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com .
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com .
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors’ package to research [at] http://www.investor-edge.com for consideration.
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.