Analyst Consensus ?
ConsensusHold46 ratings
Bullish2350.0%
Neutral2247.8%
Bearish12.2%
The PNC Financial Services Group, Inc. · PNC · FY2025 Q4 · Calendar Q1 2026
PNC raises 2026 outlook as FirstBank integration and technology investment advance
PNC's raised 2026 outlook supports a constructive operating case, with management pointing to loan growth, revenue growth, positive operating leverage, FirstBank synergies, and technology-led efficiency. The thesis still depends on disciplined integration, stable credit quality, and execution through changing rates and regulatory conditions.
Reported Before market openNYSEFinancial Services
$88.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.88
Consensus $4.23
EPS surprise
+15.4%
Reported versus consensus
Reported revenue
$6.07B
Consensus $5.96B
Revenue surprise
+1.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.8%
Event window
SPY move
-0.1%
Same window
Abnormal move
+3.9%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
+3.6%
Up to 20 sessions
PNCSPY benchmark
Ask FN2 about PNC FY2025 Q4
Transcript, numbers and history already loaded
Why did PNC rise 3.8% after beating EPS estimates in FY2025 Q4?What changed in PNC's guidance and outlook in FY2025 Q4?Give me the bull and bear case for PNC after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, guidance sentiment moved from maintained to raised. The current analysis adds the completed FirstBank acquisition, a June 2026 integration target, higher 2026 growth expectations, continued $600–$700 million quarterly buybacks, and increased technology and AI investment.
Guidance delta
Management raised its outlook, citing 8% loan growth, 11% revenue growth, and 400 basis points of positive operating leverage for 2026.
Key takeaways
- Management described 2025 as a strong year, with $7 billion in net income and 21% EPS growth.
- FirstBank closed in January, with integration planned by June 2026 and expected earnings accretion.
- The 2026 outlook calls for 8% loan growth, 11% revenue growth, and 400 basis points of positive operating leverage.
- Management plans continued branch expansion, technology modernization, and AI-driven automation.
- The company plans quarterly share repurchases of $600–$700 million.
Management priorities
- Complete FirstBank integration by June 2026.
- Continue branch expansion in high-growth communities.
- Accelerate cloud-native, micro-services, and AI-driven technology modernization.
- Enhance payments capabilities and consumer rewards platforms.
- Pursue continuous improvement to achieve $350 million in annual cost savings.
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Beat
Miss
Match
Analyst 52W Price Targets
$218.54Current
$162Low
$237.83Average
$305High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| HSBC | Buy | Buy | Maintain | Sep 28, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 20, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 17, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 16, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 16, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 16, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 16, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 16, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 16, 2026 |
| UBS | Buy | Buy | Maintain | Jul 7, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 29, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Apr 16, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 16, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jan 20, 2026 |
| Keefe, Bruyette& Woods | Market Perform | Market Perform | Maintain | Dec 17, 2025 |
| Piper Sandler | Overweight | Neutral | Upgrade | Oct 9, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Sep 19, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Jul 3, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jul 2, 2025 |
| Compass Point | Neutral | Neutral | Maintain | Dec 10, 2024 |
| Jefferies | Hold | Hold | Maintain | Jul 3, 2024 |
| Odeon Capital | Buy | Hold | Upgrade | Dec 14, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 19, 2023 |
| Deutsche Bank | Buy | Hold | Upgrade | Jan 6, 2023 |
| Nomura | Buy | Neutral | Upgrade | Apr 16, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Jan 10, 2019 |
| Macquarie | Neutral | Outperform | Downgrade | Nov 27, 2018 |
| BMO Capital | Market Perform | Outperform | Downgrade | Nov 19, 2018 |
| Bernstein | Outperform | Market Perform | Upgrade | Oct 15, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Keefe Bruyette & Woods | Market Perform | Outperform | Downgrade | Nov 29, 2016 |
| CLSA | Underperform | Underperform | Maintain | Sep 23, 2016 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Mar 14, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Oct 27, 2014 |
| Rafferty Capital | Hold | Buy | Downgrade | Apr 17, 2014 |
| Rafferty | Hold | Buy | Downgrade | Apr 17, 2014 |
| Sandler O'Neill | Buy | Hold | Upgrade | Jan 16, 2014 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Dec 16, 2013 |
| SunTrust Robinson Humphrey | Neutral | Buy | Downgrade | Feb 6, 2013 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Oct 17, 2012 |
| Stifel | Hold | Buy | Downgrade | Oct 17, 2012 |
| ISI Group | Hold | Buy | Downgrade | Oct 16, 2012 |
| Bank oferica | Buy | Buy | Maintain | Apr 19, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $218.54. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Domenico Santoro | $283 | $224.42 | +29.5% | Sep 28, 2026 |
| Deutsche Bank | Analyst unavailable | $265 | $252.51 | +21.3% | Jul 23, 2026 |
| Argus Research | Analyst unavailable | $280 | $254.57 | +28.1% | Jul 16, 2026 |
| Oppenheimer | Analyst unavailable | $281 | $253.41 | +28.6% | Jul 16, 2026 |
| RBC Capital | Analyst unavailable | $273 | $254.15 | +24.9% | Jul 16, 2026 |
| Stephens | Analyst unavailable | $275 | $254.15 | +25.8% | Jul 16, 2026 |
| Robert W. Baird | Analyst unavailable | $280 | $254.15 | +28.1% | Jul 16, 2026 |
| Barclays | Jason Goldberg | $284 | $254.15 | +30.0% | Jul 16, 2026 |
| Wells Fargo | Analyst unavailable | $285 | $254.15 | +30.4% | Jul 16, 2026 |
| Goldman Sachs | Richard Ramsden | $280 | $254.15 | +28.1% | Jul 15, 2026 |
| Jefferies | David Chiaverini | $305 | $254.15 | +39.6% | Jul 15, 2026 |
| UBS | Analyst unavailable | $288 | $255.06 | +31.8% | Jul 7, 2026 |
| Evercore ISI | John Pancari | $280 | $251.69 | +28.1% | Jul 6, 2026 |
| Wells Fargo | Analyst unavailable | $270 | $249.49 | +23.5% | Jul 6, 2026 |
| Oppenheimer | Analyst unavailable | $271 | $246.13 | +24.0% | Jun 30, 2026 |
| Morgan Stanley | Manan Gosalia | $278 | $246.06 | +27.2% | Jun 29, 2026 |
| Truist Financial | Analyst unavailable | $257 | $243.7 | +17.6% | Jun 26, 2026 |
| Truist Financial | Analyst unavailable | $245 | $222.71 | +12.1% | Apr 16, 2026 |
| Oppenheimer | Analyst unavailable | $268 | $222.96 | +22.6% | Apr 16, 2026 |
| Morgan Stanley | Manan Gosalia | $267 | $223.17 | +22.2% | Apr 16, 2026 |
| Barclays | Analyst unavailable | $277 | $222.06 | +26.8% | Apr 16, 2026 |
| Truist Financial | John McDonald | $234 | $205.46 | +7.1% | Mar 26, 2026 |
| UBS | Analyst unavailable | $263 | $238.86 | +20.3% | Feb 4, 2026 |
| Oppenheimer | Analyst unavailable | $284 | $221.38 | +30.0% | Jan 20, 2026 |
| Evercore ISI | Analyst unavailable | $260 | $221.38 | +19.0% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $221 | $221.09 | +1.1% | Jan 20, 2026 |
| Truist Financial | John McDonald | $240 | $223.18 | +9.8% | Jan 20, 2026 |
| RBC Capital | Analyst unavailable | $235 | $223.18 | +7.5% | Jan 20, 2026 |
| HSBC | Saul Martinez | $206 | $215.99 | -5.7% | Jan 7, 2026 |
| Evercore ISI | John Pancari | $247 | $216.97 | +13.0% | Jan 6, 2026 |
| Barclays | Jason Goldberg | $271 | $211.46 | +24.0% | Jan 5, 2026 |
| Morgan Stanley | Betsy Graseck | $211 | $209.86 | -3.5% | Dec 18, 2025 |
| Truist Financial | Analyst unavailable | $229 | $212.66 | +4.8% | Dec 18, 2025 |
| Piper Sandler | Analyst unavailable | $220 | $190.16 | +0.7% | Oct 9, 2025 |
| UBS | Analyst unavailable | $229 | $194.43 | +4.8% | Oct 7, 2025 |
| Evercore ISI | Analyst unavailable | $230 | $201.85 | +5.2% | Sep 30, 2025 |
| Morgan Stanley | Analyst unavailable | $206 | $203.32 | -5.7% | Sep 29, 2025 |
| Truist Financial | John McDonald | $210 | $205.1 | -3.9% | Sep 24, 2025 |
| Raymond James | Analyst unavailable | $225 | $206.27 | +3.0% | Sep 19, 2025 |
| Piper Sandler | Analyst unavailable | $211 | $201.89 | -3.5% | Sep 10, 2025 |
| Truist Financial | John McDonald | $201 | $203.77 | -8.0% | Sep 8, 2025 |
| Oppenheimer | Analyst unavailable | $238 | $192.55 | +8.9% | Jul 30, 2025 |
| Goldman Sachs | Richard Ramsden | $190 | $189.93 | -13.1% | Oct 16, 2024 |
| Wells Fargo | Mike Mayo | $215 | $192.34 | -1.6% | Oct 16, 2024 |
| Barclays | Jason Goldberg | $229 | $192.34 | +4.8% | Oct 16, 2024 |
| Evercore ISI | John Pancari | $225 | $192.34 | +3.0% | Oct 15, 2024 |
| Stephens | Terry McEvoy | $200 | $192.34 | -8.5% | Oct 15, 2024 |
| Goldman Sachs | Richard Ramsden | $180 | $178.78 | -17.6% | Sep 10, 2024 |
| Piper Sandler | Scott Siefers | $178 | $184.29 | -18.6% | Sep 3, 2024 |
| Bank of America Securities | Ebrahim Poonawala | $200 | $172.17 | -8.5% | Aug 15, 2024 |
| Goldman Sachs | Richard Ramsden | $182 | $179.71 | -16.7% | Jul 17, 2024 |
| UBS | Erika Najarian | $179 | $156.51 | -18.1% | Jul 8, 2024 |
| Wells Fargo | Mike Mayo | $194 | $150.25 | -11.2% | Jun 12, 2024 |
| Piper Sandler | Scott Siefers | $158 | $153.1 | -27.7% | May 24, 2024 |
| Jefferies | Ken Usdin | $162 | $146.67 | -25.9% | Apr 17, 2024 |
| Evercore ISI | John Pancari | $175 | $146.54 | -19.9% | Apr 17, 2024 |
| Jefferies | Ken Usdin | $171 | $157.37 | -21.8% | Apr 8, 2024 |
| HSBC | Saul Martinez | $155 | $159.97 | -29.1% | Mar 28, 2024 |
| UBS | Analyst unavailable | $176 | $164.3 | -19.5% | Jan 10, 2023 |
| Deutsche Bank | Analyst unavailable | $190 | $159.37 | -13.1% | Jan 6, 2023 |
| Barclays | Analyst unavailable | $218 | $160.42 | -0.2% | Jan 3, 2023 |
| Morgan Stanley | Analyst unavailable | $178 | $149.14 | -18.6% | Dec 19, 2022 |
| Morgan Stanley | Analyst unavailable | $177 | $148.81 | -19.0% | Dec 16, 2022 |
| Morgan Stanley | Analyst unavailable | $176 | $150.66 | -19.5% | Dec 6, 2022 |
| Deutsche Bank | Analyst unavailable | $200 | $166.64 | -8.5% | Sep 12, 2022 |
| Credit Suisse | Analyst unavailable | $170 | $156.46 | -22.2% | Jul 18, 2022 |
| Barclays | Analyst unavailable | $222 | $153.42 | +1.6% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $180 | $153.42 | -17.6% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $168 | $158.38 | -23.1% | Jul 12, 2022 |
| Wells Fargo | Analyst unavailable | $202 | $157.77 | -7.6% | Jul 1, 2022 |
| Wolfe Research | Analyst unavailable | $177 | $167.63 | -19.0% | May 26, 2022 |
| Raymond James | Michael Rose | $210 | $178.05 | -3.9% | Apr 20, 2022 |
| Argus Research | Stephen Biggar | $220 | $175.75 | +0.7% | Apr 18, 2022 |
| Argus Research | Stephen Biggar | $245 | $200.96 | +12.1% | Jan 22, 2022 |
| Evercore ISI | John Pancari | $235 | $208.52 | +7.5% | Jan 19, 2022 |
| UBS | Erika Najarian | $245 | $208.52 | +12.1% | Jan 19, 2022 |
| Barclays | Jason Goldberg | $250 | $207.07 | +14.4% | Jan 3, 2022 |
| Citigroup | Keith Horowitz | $220 | $200.68 | +0.7% | Dec 16, 2021 |
| Wells Fargo | Mike Mayo | $240 | $215.36 | +9.8% | Oct 25, 2021 |
| Bank of America Securities | Ebrahim Poonawala | $215 | $198.03 | -1.6% | Oct 15, 2021 |
| KBW | David Konrad | $193 | $184.53 | -11.7% | Jul 6, 2021 |
| Compass Point | Dave Rochester | $190 | $190.37 | -13.1% | May 18, 2021 |
| Stephens | Terry McEvoy | $195 | $174.48 | -10.8% | Apr 19, 2021 |
Track every rating change on PNC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPNC Financial Services Group, Inc. stands as a diversified financial institution operating across the United States. Founded in 1852 and headquartered in Pittsburgh, Pennsylvania, the company maintains an extensive physical footprint, boasting 2,591 branches and 9,502 ATMs. Its Retail Banking division delivers a full spectrum of financial solutions to individual consumers and small businesses. This includes a variety of deposit accounts such as checking, savings, money market, and certificates of deposit. Lending products span residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education financing, and personal and small business loans and credit lines. Additionally, the segment provides brokerage, insurance, investment, and cash management services, all accessible via its branch network, ATMs, call centers, and digital banking channels. The Corporate & Institutional Banking segment caters to the needs of mid-sized and large corporations, government entities, and not-for-profit organizations.…
Historical context
All PNC earningsFinancial Services peers this season
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|---|---|---|---|---|
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| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
- MUFY2026 Q4 · September 30, 2026+5.4% EPS+0.0% move
- CCLFY2026 Q3 · September 29, 2026+5.9% EPS+13.4% move
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
Get the PNC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-01T14:56:07.978306+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-01T14:56:07.975346+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-01. For educational purposes only; not investment advice.