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"Yeah, let's take a look at PNC. That did not do so well today. So, ticker PNC, those shares down more nearly 4% at 3.9% at the close and they did get results today. Third quarter net interest margin missing estimates. That's because they did add more expensive commercial deposits. Though the good news is that loan loss provisions were less than expected and that is consistent with the line that we've heard from Wall Street bank saying the consumer is totally fine."
PNC's (PNC) shares fell nearly 4% following Q3 results that missed net interest margin estimates due to a shift towards more expensive commercial deposits, though offset slightly by lower-than-expected loan loss provisions. The commentary also touches upon its ongoing M&A activity, which adds another layer of complexity to its near-term outlook.
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