PNC Financial Services Group
PNC on NYSE. PNC Financial Services Group sells banking and financial services to individuals and businesses. Market value $87.9bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 11 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.37.
Profit per $100 you pay: $8.27.
Quality score: 67 of 100. Price score: 90 of 100. Our list needs 70 on quality and 60 on price.
$220.16 a share, 24% above its 1-year low
Over the past year the price has ranged from $176.88 to $258.96.
Expected to report results Thursday 15 Oct, before the market opens.
Dividend: 3.0% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $19.2bn | $21.1bn | $21.5bn | $21.6bn | $23.1bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.40bn | 0.40bn | 0.40bn | 0.39bn | 0.40bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsSlow, 6.4% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $6.9 billion last quarter, up 21% on a year ago.
- Profit: $2 billion, up 25% on a year ago.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $5.4bn |
| December 2024 | $5.6bn |
| March 2025 | $5.5bn |
| June 2025 | $5.7bn |
| September 2025 | $5.9bn |
| December 2025 | $6.1bn |
| March 2026 | $6.2bn |
| June 2026 | $6.9bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $1.4bn |
| December 2024 | $1.5bn |
| March 2025 | $1.4bn |
| June 2025 | $1.6bn |
| September 2025 | $1.7bn |
| December 2025 | $1.9bn |
| March 2026 | $1.7bn |
| June 2026 | $2.0bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 15 October 2026
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
18 long-term investors we follow own it, down from 19 last quarter. 2,030 funds in all.
- Matrix Asset AdvisorsDavid Katz
- Value
- $47m
- Share of fund
- 3.8%
- Cullen Capital ManagementJames Cullen
- Value
- $45m
- Share of fund
- 0.4%
- First Manhattan Co.First Manhattan partners
- Value
- $11m
- Share of fund
- <0.1%
- LSV Asset ManagementJosef Lakonishok
- Value
- $5m
- Share of fund
- <0.1%
- Gotham Asset ManagementJoel Greenblatt
- Value
- $4m
- Share of fund
- <0.1%
- Dodge & CoxDodge & Cox investment committee
- Value
- $3m
- Share of fund
- <0.1%
- Kahn BrothersThomas Kahn
- Value
- $330,427
- Share of fund
- <0.1%
- Beutel GoodmanBeutel Goodman team
- Value
- $12,000
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Aristotle Capital ManagementHoward Gleicher | $949m | 2.0% | Cut |
| Brandes Investment PartnersCharles Brandes | $167m | 1.2% | Cut |
| Davis Selected AdvisersChris Davis | $122m | 0.5% | Cut |
| Fiduciary Management (FMI)Pat English | $105m | 1.5% | Cut |
| Cambiar InvestorsBrian Barish | $57m | 2.5% | Cut |
| Matrix Asset AdvisorsDavid Katz | $47m | 3.8% | |
| Cullen Capital ManagementJames Cullen | $45m | 0.4% | |
| GAMCO InvestorsMario Gabelli | $31m | 0.3% | Cut |
| GMOJeremy Grantham | $15m | <0.1% | Cut |
| First Manhattan Co.First Manhattan partners | $11m | <0.1% | |
| Heartland AdvisorsBill Nasgovitz | $9m | 0.4% | Cut |
| LSV Asset ManagementJosef Lakonishok | $5m | <0.1% | |
| Gotham Asset ManagementJoel Greenblatt | $4m | <0.1% | |
| Dodge & CoxDodge & Cox investment committee | $3m | <0.1% | |
| Tweedy, BrowneTweedy Browne partners | $3m | 0.2% | Added |
| Boston PartnersBoston Partners team | $514,290 | <0.1% | Added |
| Kahn BrothersThomas Kahn | $330,427 | <0.1% | |
| Beutel GoodmanBeutel Goodman team | $12,000 | <0.1% |
Sold out this quarter
Largest holders overall
- BlackRock$7.9bn
- Vanguard Capital Management$6.5bn
- State Street$4.5bnAdded
- FMR$3.5bnCut
- Vanguard Portfolio Management$2.6bnAdded
- Norges Bank$2.5bnNew
- Geode Capital Management$2.3bn
- Bank of America$2.1bnAdded
- Franklin Resources$2.1bnCut
- Capital Research Global Investors$1.9bnCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $4,008 of shares on the open market. 9 sold $27m.
- Juchno Stacy M.Executive Vice PresidentSold
- Date
- 13 August 2026
- Shares
- 3,354
- Price
- $255.84
- Value
- $858,076
- Deborah GuildExecutive Vice PresidentSold
- Date
- 22 July 2026
- Shares
- 1,200
- Price
- $252.19
- Value
- $302,634
- Thomas Michael DuaneExecutive Vice PresidentSold
- Date
- 12 June 2026
- Shares
- 1,500
- Price
- $238.14
- Value
- $357,210
- Overstrom Alexander E. C.Executive Vice PresidentSold
- Date
- 8 June 2026
- Shares
- 1,500
- Price
- $227.97
- Value
- $341,955
- Novosel StephanieExecutive Vice PresidentSold
- Date
- 5 June 2026
- Shares
- 1,800
- Price
- $228.73
- Value
- $411,714
- Feldstein Andrew TDirectorSold
- Date
- 26 May 2026
- Shares
- 45,000
- Price
- $220.57
- Value
- $10m
- Medler Linda RDirectorBought
- Date
- 9 March 2026
- Shares
- 20
- Price
- $200.38
- Value
- $4,008
- DEMCHAK WILLIAM SCEO, DirectorSold
- Date
- 20 February 2026
- Shares
- 50,000
- Price
- $230.88
- Value
- $12m
- Overstrom Alexander E. C.Executive Vice PresidentSold
- Date
- 18 February 2026
- Shares
- 2,500
- Price
- $233.91
- Value
- $584,775
- Cestello Louis RobertExecutive Vice PresidentSold
- Date
- 18 February 2026
- Shares
- 4,279
- Price
- $234.01
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 13 August 2026 | Juchno Stacy M. Executive Vice President | Sold | 3,354 | $255.84 | $858,076 |
| 22 July 2026 | Deborah Guild Executive Vice President | Sold | 1,200 | $252.19 | $302,634 |
| 12 June 2026 | Thomas Michael Duane Executive Vice President | Sold | 1,500 | $238.14 | $357,210 |
| 8 June 2026 | Overstrom Alexander E. C. Executive Vice President | Sold | 1,500 | $227.97 | $341,955 |
| 5 June 2026 | Novosel Stephanie Executive Vice President | Sold | 1,800 | $228.73 | $411,714 |
| 26 May 2026 | Feldstein Andrew T Director | Sold | 45,000 | $220.57 | $10m |
| 9 March 2026 | Medler Linda R Director | Bought | 20 | $200.38 | $4,008 |
| 20 February 2026 | DEMCHAK WILLIAM S CEO, Director | Sold | 50,000 | $230.88 | $12m |
| 18 February 2026 | Overstrom Alexander E. C. Executive Vice President | Sold | 2,500 | $233.91 | $584,775 |
| 18 February 2026 | Cestello Louis Robert Executive Vice President | Sold | 4,279 | $234.01 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.