PNC Financial Services Group Stock Price, News & Analysis

The PNC Financial Services Group announced its results from the Federal Reserve's 2022 Comprehensive Capital Analysis and Review, revealing a Stress Capital Buffer (SCB) of 2.9% for the period beginning October 1, 2022. PNC's Common Equity Tier 1 (CET1) ratio notably exceeds the regulatory minimum, indicating strong capital levels. The board also authorized the repurchase of up to 100 million shares, with 64% remaining available as of March 31, 2022. Additionally, PNC increased its quarterly dividend from $1.25 to $1.50 per share, a 20% rise effective May 5, 2022.

Harris Williams announces Keensight Capital's investment in Lisam Systems, a leader in environmental, health, and safety (EH&S) software solutions. Lisam serves over 2,000 clients globally across sectors like chemicals and specialty gases. The partnership aims to drive Lisam's growth strategies. Keensight, recognized as a top European growth buyout firm, focuses on long-term investments in profitable companies with revenues between €10 million and €400 million. Harris Williams emphasizes their expertise in the EH&S software sector, enhancing Lisam's innovative offerings.

The PNC Financial Services Group, Inc. (NYSE: PNC) announced the results of its biennial company-run stress test on June 23, 2022. This test, adhering to Federal Reserve and OCC regulations, aims to evaluate if PNC has sufficient capital to withstand severe economic downturns over a projected period. The results indicate strong capital ratios, with an ending Common Equity Tier 1 ratio of 9.1% and a minimum of 8.7%. PNC's robust balance sheet positions it well to support its stakeholders during economic challenges, although these results are based on hypothetical scenarios and not forecasts.

Harris Williams has successfully advised Technical Safety Services (TSS) on its sale to Levine Leichtman Capital Partners (LLCP). TSS offers testing, inspection, certification, and calibration services to the life sciences sector. The transaction highlights TSS's strong position in regulatory-driven services, attracting high investor interest. TSS is poised for growth with its new partnership and is recognized as a leader in the industry. The sale marks another success for Harris Williams, demonstrating their effective cross-industry collaboration.

Harris Williams has advised Bamboo Rose, a McCarthy Capital portfolio company, on its strategic investment from Rubicon Technology Partners. Bamboo Rose offers a leading product lifecycle and supply chain software platform for retailers and suppliers, enhancing supply chain visibility and compliance. This transaction highlights increasing demand for supply chain solutions driven by complexity and consumer preferences, signaling strong investor interest in the sector.

The PNC Financial Services Group announced the redemption of $750 million in Senior Notes with a 2.450% distribution rate, due July 28, 2022. This redemption will occur on June 28, 2022, with investors receiving $1,000 for each $1,000 in principal, plus accrued payments. This move reflects PNC's strategy to manage its debt effectively and strengthen its financial position in the market.

Harris Williams has advised Cold Jet, a leader in dry ice technologies, on a minority investment from Seidler Equity Partners and Stonehenge Partners. Cold Jet focuses on environmental cleaning and dry ice production, utilizing recycled CO₂ for sustainable solutions. The investment aims to support Cold Jet's growth, with CEO Gene Cooke remaining a majority shareholder. Seidler has over $3.5 billion in assets under management, while Stonehenge has raised more than $1 billion for investments. The transaction reflects strong investor interest in industrial assets.

Cold Jet, a leader in dry ice technologies, has announced a minority investment partnership with Seidler Equity Partners and Stonehenge Partners, facilitated by Harris Williams. The collaboration aims to enhance Cold Jet's growth trajectory, leveraging its environmentally sustainable solutions. Cold Jet focuses on innovative dry ice applications for cleaning and food transportation, contributing significantly to health safety in vaccine distribution during the COVID-19 pandemic. With operations in multiple regions, the company is well-positioned for long-term market growth.