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MarketScreener Homepage  >  Equities  >  Nyse  >  PNC Financial Services Group, Inc.    PNC

PNC FINANCIAL SERVICES GROUP, INC.

(PNC)
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More Banks Log Drops in Provisions for Credit Losses

10/14/2020 | 09:01am EST

CREDIT LOOK:

Here's a look at what credit quality looked like at some major financial firms for the third quarter as the Covid-19 pandemic continues to weigh on consumers and businesses.

BANK OF AMERICA:

--Bank of America's provision for credit losses was $1.39 billion, down from $5.12 billion in 2Q.

--Nonperforming loans and leases as a percentage of total loans and leases was 0.48%, up from 0.44% in 2Q.

--The net charge-off ratio fell to 0.4% in 3Q, down from 0.45%.

GOLDMAN SACHS:

--The company logged a $278 million provision for credit losses, down from a second-quarter provision of $1.59 billion.

WELLS FARGO:

--Wells' provision expense was $769 million, down from $9.53 billion.

--Net charge-offs fell to 0.29%, down from 0.46% in 2Q.

PNC:

--PNC's provision for credit losses fell to $52 million, down from $2.46 billion in 2Q.

--Nonperforming loans to total loans was 0.84% in 3Q, up from 0.73% in 2Q.

--Net charge-offs to average loans on an annualized basis fell to 0.24%, down from 0.35%.

U.S. BANCORP:

--USB's provision for credit losses was $635 million in 3Q compared with $1.74 billion in 2Q.

--USB's net charge-off ratio was 0.66%, up from 0.55% in 2Q.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

10-14-20 0859ET

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -0.14% 28.99 Delayed Quote.-17.58%
ENTERPRISE BANCORP, INC. 0.68% 26.6 Delayed Quote.-21.46%
PNC FINANCIAL SERVICES GROUP, INC. -0.61% 139.79 Delayed Quote.-11.89%
THE BANCORP, INC. -2.10% 12.59 Delayed Quote.-0.85%
THE GOLDMAN SACHS GROUP, INC. -0.48% 235.4 Delayed Quote.2.87%
US BANCORP -1.05% 44.21 Delayed Quote.-24.64%
WELLS FARGO & COMPANY -0.45% 28.46 Delayed Quote.-47.10%
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More news
Financials (USD)
Sales 2020 16 810 M - -
Net income 2020 6 897 M - -
Net Debt 2020 - - -
P/E ratio 2020 8,94x
Yield 2020 3,29%
Capitalization 59 229 M 59 229 M -
Capi. / Sales 2020 3,52x
Capi. / Sales 2021 3,64x
Nbr of Employees 50 968
Free-Float 78,0%
Chart PNC FINANCIAL SERVICES GROUP, INC.
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Technical analysis trends PNC FINANCIAL SERVICES GROUP, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 131,68 $
Last Close Price 139,79 $
Spread / Highest target 10,9%
Spread / Average Target -5,80%
Spread / Lowest Target -19,9%
EPS Revisions
Managers
NameTitle
William Stanton Demchak Chairman, President & Chief Executive Officer
E. William Parsley Chief Operating Officer & Executive Vice President
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Steven C. van Wyk Executive VP, Head-Technology & Innovation
Charles E. Bunch Independent Director
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