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PNC Financial Services Group Inc PNC Stock Quote

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Morningstar‘s Stock Analysis PNC

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Is it the right time to buy or sell?

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Economic Moat

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Updating Our Fair Value Estimate for PNC to $183 From $185

Business Strategy and Outlook

| Eric Compton, CFA |

PNC has transformed itself since the financial crisis, with the integration of the troubled National City (doubling the size of PNC), the acquisition of RBC’s U.S. branch network in the Southeast, and the latest acquisition of BBVA USA (a roughly 25% increase in size). PNC is now the second largest regional bank in the United States. PNC has been successful at organically expanding its customer base, both in commercial banking and in retail. The expanding client base has led to solid loan, deposit, and fee income growth. Selling new products into the formerly underperforming RBC branch network has worked particularly well, and PNC now seems poised to repeat this effort with the acquisition of BBVA. The bank's Midwest commercial growth strategy is paying dividends, and PNC is now attempting retail growth efforts in the same areas where commercial expansion was successful as well as commerical optimization within the BBVA footprint.

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Key Statistics PNC

Company Profile PNC

Business Description

PNC Financial Services Group is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking across the United States.

Contact
300 Fifth Avenue, The Tower at PNC Plaza
Pittsburgh, PA, 15222-2401
T +1 888 762-2265
Industry Banks - Regional
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 51,257

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