---
title: PNC Financial Services (PNC) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/pnc
ticker: PNC
as_of: 2026-10-17
sector: Financial Services
industry: Banks - Regional
---
# PNC Financial Services (PNC)

PNC Financial Services (PNC) closed at $217.39 on Oct 16, 2026, undervalued by 7% vs its model value of $233.39 (from the justified price to tangible book).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $217.39 (Oct 16, 2026) |
| Model value (from the justified price to tangible book) | $233.39 |
| Price vs model | undervalued by 7% vs model |
| Range of that model | $204.22 – $272.29 |
| Market value | $86.7B |
| P/E (fiscal 2025) | 13.1 |
| Net margin (fiscal 2025) | 20.4% |
| Free cash flow (fiscal 2025) | — |
| Dividend yield (trailing twelve months) | 3.40% |
| Beta | 0.93 |
| Cost of capital (WACC) | 10.36% |
| Business classification | Dividend Payer (Low/slowing growth (~4% recent), High profitability (30% net margin), Strong dividend yield, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Lowest P/E | #45 | 13.1× | https://sweetvaluelab.com/lists/lowest-pe |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 3.40% |
| Dividends per share, last 12 months | $7.40 |
| Dividends / earnings (fiscal 2025) | 37.7% |
| Raised | 15 years in a row |
| Growth over 5 years | 9.0% a year |
| Latest payment | $2.00, ex-date Oct 14, 2026, paid Nov 5, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 14, 2021 | $4.80 |
| To Oct 14, 2022 | $5.75 |
| To Oct 16, 2023 | $6.10 |
| To Oct 16, 2024 | $6.30 |
| To Oct 14, 2025 | $6.60 |
| Trailing twelve months (to Oct 14, 2026) | $7.40 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/TBV · justified | primary | $233.39 | $204.22 | $272.29 |
| P/E · peers | cross check | $213.62 | $203.66 | $232.12 |
| P/E · own history | cross check | $228.28 | $209.27 | $251.62 |
| PEG | sanity check | $301.23 | $301.23 | $301.23 |
| Dividend discount | cross check | $140.57 | $98.38 | $222.56 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 2 open-market sales ($1.2M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | Salesky Bryan Scott | Director | Grant / award | 119 | $26,269.3 |
| Oct 1, 2026 | NIBLOCK ROBERT A | Director | Grant / award | 59 | $13,024.3 |
| Oct 1, 2026 | Khator Renu | Director | Grant / award | 119 | $26,269.3 |
| Oct 1, 2026 | HESSE DANIEL | Director | Grant / award | 65 | $14,348.8 |
| Oct 1, 2026 | HARSHMAN RICHARD J | Director | Grant / award | 30 | $6,622.5 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 15, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/713676/000162828026065997/pnc-20261015.htm |
| Oct 15, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/713676/000162828026065936/pnc-20261015.htm |
| Sep 29, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/713676/000162828026063770/pnc-20260929.htm |
| Aug 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/713676/000162828026053170/pnc-20260630.htm |
| Jul 21, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/713676/000162828026048994/pnc-20260716.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Christopher Davis | 2026-06-30 | 496,066 | $122.1M |
| David Katz | 2026-09-30 | 173,623 | $38.6M |
| Bridgewater | 2026-06-30 | 82,490 | $20.3M |
| Dodge & Cox | 2026-06-30 | 13,960 | $3.4M |

6 tracked managers in all.

## About

PNC Financial Services Group, Inc. stands as a diversified financial institution operating across the United States. Founded in 1852 and headquartered in Pittsburgh, Pennsylvania, the company maintains an extensive physical footprint, boasting 2,591 branches and 9,502 ATMs. Its Retail Banking division delivers a full spectrum of financial solutions to individual consumers and small businesses. This includes a variety of deposit accounts such as checking, savings, money market, and certificates of deposit. Lending products span residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education financing, and personal and small business loans and credit lines. Additionally, the segment provides brokerage, insurance, investment, and cash management services, all accessible via its branch network, ATMs, call centers, and digital banking channels. The Corporate…

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Source: https://sweetvaluelab.com/stocks/pnc (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.