PNC earnings call for the period ending December 31, 2020.
News & Analysis: PNC Financial Services
The amount matches the preceding six payouts, and for good reason.
The three big regional bank acquisitions of 2020 saw lots of EPS accretion, cost savings, and geographic diversity.
By most metrics investors use to evaluate bank stocks, BBVA USA is not a great franchise. Yet it offers PNC several pieces the regional lender has been looking for.
PNC will purchase the U.S. arm of BBVA in an all-cash deal valued at $11.6 billion. The purchase will add $100 billion in assets and create a national presence.
Bill Demchak seems to be following the same acquisition strategy as six months ago.
Bank CEOs seem ready to start looking at mergers and acquisitions, but the sellers may still want to wait until the economic outlook improves.
U.S. Bancorp recently announced that it is planning to accelerate branch closures as digital banking transactions and sales have increased during the coronavirus pandemic.
The CEO believes consumer and commercial loan losses could ultimately be tied to how much more stimulus Congress provides.
PNC earnings call for the period ending September 30, 2020.