PNC Financial Services Group Stock Price, News & Analysis

Harris Williams is serving as the lead sell-side advisor for A2MAC1, a global leader in automotive technology benchmarking, in its sale to Providence Equity Partners. Five Arrows Principal Investments will reinvest as joint-lead. A2MAC1 has expanded its offerings beyond technology benchmarking to include costing and performance insights, and it employs over 700 people worldwide. The partnership is expected to enhance A2MAC1's growth trajectory and further develop its unique insights in the automotive industry.

Harris Williams has successfully advised St Pierre Groupe on its sale to Grupo Bimbo, a significant player in the global bakery sector. St Pierre, known for its premium French bakery products, will leverage Grupo Bimbo's extensive global infrastructure to foster its growth. This strategic acquisition positions St Pierre to enhance its brand presence in the U.S. and European markets. Both parties view this transaction as a vital step in achieving long-term strategic goals, as St Pierre operates in over 35,000 retail locations globally.

Harris Williams served as the lead advisor for the sale of Ned Stevens Gutter Cleaning to Cobepa S.A., alongside The Jordan Company. Ned Stevens, a growing player in exterior home services since 1965, operates in 15 states and Washington D.C. AVALT retains a minority stake post-sale, highlighting Cobepa's investment focus on companies with strong growth potential. With a portfolio of approximately $4.2 billion, Cobepa prioritizes sustainable business models. The transaction underscores ongoing interest in residential services amidst economic challenges.

The 2023 economic outlook presented at the 59th annual ASU/PNC Bank Economic Forecast Luncheon highlights significant challenges, including conflicting economic indicators, rising inflation, and potential recession risks. Despite robust employment, concerns over food supply disruptions due to the Ukraine conflict have been raised. Key speakers include Federal Reserve Governor Christopher Waller and PNC’s Chief Investment Strategist Daniel Brady. The event will occur on November 16, 2022, at the Sheraton Phoenix Downtown, offering insights on market performance and regional economic trends.

Harris Williams announced its advisory on the sale of Bradford Health Services, a leading provider of substance use disorder treatment, to Lee Equity Partners. Based in Birmingham, Alabama, Bradford operates a network of 40 facilities across the Southeast, providing comprehensive treatment services. The investment reflects the increasing demand for behavioral health services. Centre Partners, a private equity firm, previously partnered with Bradford to enhance its growth trajectory. The deal signifies a strategic move to further develop Bradford's ability to address the substance use epidemic in the U.S.

Harris Williams is advising Magna Legal Services on its upcoming sale to Odyssey Investment Partners. Magna, backed by CIVC Partners, offers litigation support services across the U.S. The transaction highlights continued interest in outsourced legal services, essential for law firms and corporations. CIVC has invested over $2 billion in growth and buyout capital since 1989. Odyssey Investment Partners has raised over $8.2 billion in private equity capital, focusing on transforming middle-market companies. Harris Williams is a subsidiary of PNC.

The PNC Financial Services Group announced that CFO Robert Q. Reilly and Chief Credit Officer Michael J. Hannon will present on business performance and strategy at the BancAnalysts Association of Boston Conference. The event is scheduled for 10:30 a.m. (ET) on Thursday, Nov. 3, in Boston. Attendees can access a live webcast and materials at www.pnc.com/investorevents. PNC is a leading financial services institution in the U.S., offering a wide array of banking and wealth management services.

PNC Financial Services reported a strong third quarter for 2022, with net income of $1.64 billion, a 10% increase from the previous quarter. Total revenue rose to $5.55 billion, driven by a 14% increase in net interest income and a net interest margin of 2.82%. Loan growth was steady at 3%, although average deposits declined by 2%. The efficiency ratio improved to 59%, while credit losses rose to $241 million. PNC returned $1.7 billion to shareholders through share repurchases and dividends, demonstrating robust capital management.