Why PNC Financial Shares Are Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
PNC Financial Services Group's Q2 revenues increased 3.5% Y/Y to $5.293 billion, missing the consensus of $5.450 billion. However, EPS of $3.36 came above the consensus of $3.28. Net interest income increased by 15% to $3.5 billion. Average deposits decreased by $20.8 billion Y/Y. The company raised the quarterly cash dividend on common stock to $1.55 per share. PNC shares are trading lower by 3.22% at $123.07 in the premarket session.
July 18, 2023 | 12:30 pm
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PNC Financial's Q2 revenues missed expectations but EPS beat estimates. The company raised its dividend but shares are trading lower.
PNC Financial's Q2 revenues missed the consensus, which could negatively impact investor sentiment. However, the company beat EPS estimates and raised its dividend, which are positive signals. Despite these, the stock is trading lower, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100