EarningsPNC reported core EPS of $3.30, 35c above consensus, beating on NII, most fee categories, expenses and provisions in the quarter.
Growth OpportunitiesNewer markets such as Texas and Southwest US offer significant organic growth opportunities as PNC monetizes BBVA US’s branch distribution and benefits from the Texas demographic boom.
Strategic PositioningPotential M&A announcements could serve as a positive catalyst owing to management's desire to pursue deal-making and a solid track record with prior deals.