The PNC Financial Services Group, Inc. Q3 2026 Earnings Recap

PNC shares rose 0.7% after earnings, a roughly flat reaction. The quarter showed substantial loan growth and higher earnings, while period-end deposits fell and the transcript offered no specific fourth-quarter outlook for overall growth.

Key Takeaways

• Net income was $2.1 billion, or $5.09 per diluted share; return on tangible common equity was above 18%.
• Average loans rose 2% sequentially to $372 billion. Year to date, loans were up $47 billion, including more than $30 billion of organic growth.
• Average deposits increased 1% sequentially to $461 billion, but period-end deposits fell $17 billion, or 4%, from June 30.
• PNC returned $1.4 billion to shareholders in the quarter, including $560 million in repurchases; it expects fourth-quarter repurchases to be at approximately the same level.
• The CET1 ratio was an estimated 9.8%. Tangible book value fell 3% sequentially, driven by the decline in AOCI.