BUZZ-PNC Financial shares fall; interest income misses while rev, profit beat the Street
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PNC Financial shares fell over 5%, marking the largest drop since April 13, despite beating EPS and revenue expectations. The company's quarterly Net Interest Income (NII) of $3.648 billion missed Wall Street's forecast of $3.676 billion. Analyst Steven Alexopoulous predicts lower NII and higher expenses for Q4, leading to a projected 25% decrease in EPS for FY 2025. PNC shares last traded at $182, below the median price target of $225, with a year-to-date decline of 6.8% compared to a 21.9% gain for the S&P 500 bank index.
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