Post-Earnings Expert Notes - PNC Financial Services

LONDON, October 30, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings review on The PNC Financial Services Group Inc. (NYSE: PNC). On October 15, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on The PNC Financial Services Group Inc. (PNC Financial). During Q3 2014, the company's net income broadened by $10 million on a Y-o-Y basis and diluted EPS increased $0.02 from the preceding year quarter. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, PNC Financial reported total revenues of $3,841 million, compared to $3,920 million in the same period last year. The company's total revenues during the reported quarter outperformed Bloomberg analysts' forecast of $3,793 million. Net interest income for Q3 FY14 decreased 6% to $2,104 million, from $2,234 million in the year-ago quarter. Non-interest income increased 3% to $1,737 million from $1,686 million in Q3 FY13. Further, non-interest expense for Q3 FY14 fell 2% Y-o-Y to $2,357 million, reflecting well-controlled expenses and the impact of a Q3 FY13 noncash charge for unamortized discounts of $27 million related to redemptions of trust preferred securities. The free research on PNC can be downloaded as in PDF format at:

www.Investor-Edge.com/PNCFreeReport

Provision for credit losses for Q3 FY14 decreased to $55 million, compared with $137 million in the corresponding quarter last year, as overall credit quality continued to improve. The net interest margin was 2.98% for Q3 FY14, compared with 3.47% for the same quarter last year. Moreover, the company's net income broadened to $1,038 million, or $1.79 per diluted share, in Q3 FY14, from $1,028 million, or $1.77 per diluted share, in the year-ago quarter. Analysts from Bloomberg had expected the company to report net income of $916 million, or $1.70 per diluted share, in Q3 FY14.

William S. Demchak, Chairman, President and CEO of PNC Financial, said that for Q3 FY14 the company continued to deliver solid performance in a challenging revenue environment by executing on its strategic priorities. He stated that the company added customers, grew deposits, and increased fee income and capital, and also effectively managed expenses even as it made targeted investments in its businesses and technology. Mr. Demchak added that balance sheet discipline should continue to differentiate PNC Financial and help to drive long-term shareholder value in the future. Sign up and read the free analyst's notes on PNC at:

www.Investor-Edge.com/PNC-30102014

On October 02, 2014, the company's board of directors declared a quarterly common stock cash dividend of 48 cents per share which is payable on November 05, 2014. PNC Financial also returned capital to its shareholders under its existing common stock repurchase authorization, through repurchases of 4.2 million common shares for $0.4 billion during Q3 FY14 compared with 2.6 million common shares for $0.2 billion during Q2 FY14.

Stock Performance 

On the day of the earnings release, October 15, 2014, shares of PNC Financial ended the session at $78.00, down 4.40%, and witnessed mostly a positive momentum since then. On the last close, Wednesday, October 29, 2014; it finished at $84.80, 0.84% above its previous day's closing price, after vacillating between $83.70 and $84.95. A total of 2.14 million shares were traded, which was below its three months average volume of 2.22 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have gained 2.76% and 9.31%, respectively. However, the stock has declined 1.04% over the last one month. Shares of PNC Financial are trading above their 50-day and 200-day moving averages of $84.22 and $84.11, respectively. Furthermore, the stock traded at a PE ratio of 11.94 and has a Relative Strength Index (RSI) of 55.95. Visit Investor-Edge and access the latest research on PNC at:

www.Investor-Edge.com/PNCEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 11 insider transactions made by 10 individuals. On September 30, 2014, Donald J. Shepard, Director at PNC, sold 260 shares of the company at a price of $85.58 per share and on October 01, 2014, he purchased 411 shares at $84.58 per share. Further, on October 01, 2014, Paul W. Chellgren, Andrew T. Feldstein and Kay Coles James, Directors at PNC, bought 310, 316 and 75 shares of the company, respectively, at a price of $84.58 per share. On the same day, Anthony A. Massaro and Jane G. Pepper, Directors at PNC, purchased 170 and 84 shares of the company, respectively, at $84.58 per share; along with two more directors, Lorene K. Steffes and George H. Walls, Jr., who bought 82 and 319 shares of the company, respectively, at the same price. Additionally, on October 21, 2014, Todd Chamberlain, President and CEO at PNC Mortgage, sold 8,945 shares of the company at a price of $80.70 per share. On October 25, 2014, Gregory Kozich, Controller at PNC, disposed 158 shares of the company at a price of $82.24 per share. Complimentary in-depth research on PNC is available at:

www.Investor-Edge.com/PNCInsiderTrading

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