PNC Financial Services Group Stock Price, News & Analysis

PNC Financial Services Group (NYSE: PNC) has announced its quarterly dividend declarations. The company will pay a cash dividend of $1.60 per share on common stock, payable on February 5, 2025, to shareholders of record as of January 15, 2025.

The board also declared quarterly dividends on several preferred stock series: Series B at $0.45 per share, Series T at $850.00 per share ($8.50 per depositary share), Series U at $1,500.00 per share ($15.00 per depositary share), Series V at $1,550.00 per share ($15.50 per depositary share), and Series W at $1,562.50 per share ($15.6250 per depositary share). Each series has specific payment dates and record dates in the first quarter of 2025.

PNC Financial Services Group demonstrates its commitment to community service through various holiday giving initiatives across different markets. In Central Illinois, PNC partnered with Operation Warm, distributing 1,630 winter coats worth $40,000 to early education centers, bringing their total contribution to over 5,500 coats since 2019.

Notable initiatives include Jacksonville's fuzzy fashion drive benefiting The Weldon housing community, Minnesota's support for pre-K teachers through the Kids In Need Foundation, and Northwest Pennsylvania's 16th annual coat distribution serving over 1,300 children. The Toledo market participated in WTOL-TV's Gift of Joy program, providing gifts for over 2,000 foster children.

These initiatives align with PNC Grow Up Great, the company's signature philanthropic program celebrating its 20th anniversary, focusing on early childhood education and community development.

PNC Bank has announced a reduction in its prime lending rate to 7.50%, effective December 19, 2024. This change reflects an important adjustment in the bank's lending policies.

PNC, trading under NYSE: PNC, stands as one of the largest diversified financial institutions in the United States. The bank offers comprehensive financial services including retail and business banking, lending products, specialized corporate services, real estate finance, asset-based lending, wealth management, and asset management. Their business model emphasizes strong customer relationships and local service delivery.

Next Level Aviation (NLA), a global distributor of used serviceable materials for Boeing and Airbus aircraft, has secured a $50 million revolving credit facility with PNC Bank. The facility has potential for expansion as NLA grows and will be used to increase inventory of serviceable materials and support business diversification into complementary lines. This financing represents the first step in establishing the financial foundation for NLA's next growth phase.

PNC Financial Services Group (NYSE: PNC) has announced its upcoming fourth quarter and full year 2024 financial results release, scheduled for January 16, 2025, at 6:30 a.m. ET. Chairman and CEO William S. Demchak and CFO Robert Q. Reilly will host an investor conference call at 10 a.m. ET the same day.

Investors can access the call through dial-in numbers (866) 604-1697 and (215) 268-9875 (international). The presentation materials, earnings release, and a 30-day webcast replay will be available at www.pnc.com/investorevents. A telephone replay will be accessible for 30 days at (877) 660-6853 and (201) 612-7415 with Access ID 13750472.

H.B. Fuller (NYSE: FUL) announced the reorganization of its building and construction segments, including the sale of its Flooring business to Pacific Avenue Capital Partners for $80 million. The company is forming a new Building Adhesive Solutions (BAS) Global Business Unit, combining Insulated Glass, Woodworking, Composite segments with Roofing and Building Envelope and Infrastructure segments. The new BAS unit generated approximately $850 million in net revenue and $130 million in adjusted EBITDA in fiscal year 2024. The Flooring business divestiture will reduce annual revenue by $160 million and adjusted EBITDA by $15 million.

PNC Financial Services Group has announced that Chairman and CEO William S. Demchak and EVP/CFO Robert Q. Reilly will participate in the Goldman Sachs Financial Services Conference in New York City. The executives will discuss business performance and strategy on Tuesday, Dec. 10, at 1:00 p.m. (ET). A live webcast and related materials, including cautionary statements, will be available at www.pnc.com/investorevents.

PNC Bank's 41st annual Christmas Price Index® (PNC CPI) shows a 5.4% increase in 2024, more than double last year's 2.7% rise and exceeding the U.S. Consumer Price Index of 2.6%. The total cost of all twelve gifts from 'The Twelve Days of Christmas' reached $49,263, with the 'True Cost of Christmas' (all 364 gifts with verses repeated) hitting $209,272. The increase was primarily driven by service costs, particularly performer wages, which rose 7.9%. Five gifts maintained stable prices, while the Pear Tree saw a 17.1% increase. Online shopping totals reached $54,074, affected by elevated shipping costs.

PNC Bank announced a $500 million increase in its branch investment, bringing the total investment to $1.5 billion. The bank plans to open more than 200 new branches across 12 cities and renovate 1,400 existing locations over the next five years. This expansion doubles their previously announced plans from February. New branches will be added in Atlanta, Charlotte, Orlando, Phoenix, Raleigh, and Tampa, along with expanded presence in Miami, adding to earlier announced locations in Austin, Dallas, Denver, Houston, and San Antonio. PNC currently maintains the fourth-largest branch network in the US with over 2,200 branches and 60,000 ATMs nationwide.