Is The PNC Financial Services Group (PNC) the Best Regional Bank Dividend Stock to Buy?
We recently published a list of the 11 Best Regional Bank Dividend Stocks to Buy. In this article, we are going to take a look at where The PNC Financial Services Group, Inc. (NYSE:PNC) stands against other best regional bank dividend stocks.
The year 2024 proved to be a strong one for major US banks, with the six largest institutions collectively reporting a 20% increase in net profits compared to the previous year, according to FactSet data. This performance ranks among the most successful years for the US banking sector in the past two decades. The industry rebounded significantly following the widely publicized bank failures of 2023, which saw several prominent lenders collapse. Based on Financial Times estimates, trading revenue for the year climbed to $123 billion, reflecting a 10% rise from 2023, while investment banking fees jumped 34% to $36 billion. This surge was driven by a recovery in dealmaking activity later in the year, as more companies moved forward with equity and debt offerings.
Regional banks have been gaining momentum within the banking sector following the regional banking turmoil of spring 2023, which prompted lenders to prioritize liquidity, often at any cost. While their performance was strong relative to the Russell small cap index, it still fell short of the broader market's full-year return of over 25.02%. Despite the gains in 2024, bank stocks have lagged the broader market over multiple years, creating an attractive investment opportunity at historically low valuations. By the end of the year, the price-to-earnings (P/E) multiples of the Regional Banking Index and Community Bank Index were nearly half that of the broader market's, highlighting their relative discount.
Moreover, in the fourth quarter of 2024, approximately two-thirds of US regional banks reported higher earnings compared to the previous year. According to S&P Global Market Intelligence, 35 out of 51 banks with assets between $10 billion and $100 billion saw year-over-year growth in earnings per share (EPS) for the fourth quarter, based on financial reports released between January 13 and January 24. In addition, 27 regional banks posted quarter-over-quarter improvements, while 22 recorded EPS gains on both a quarterly and annual basis. Meanwhile, only 11 regional banks experienced EPS declines in both comparisons.
A report from S&P Global Ratings noted that fourth-quarter net income improved due to easing pressures on net interest margins (NIM) and an increase in fee income. For the full year 2024, the net income benefited from reduced provisions and stable fee income, though NIM compression partially offset these gains. Regional banks saw another consecutive increase in net interest income (NII) during the quarter, supported by modest loan growth and an improved NIM. However, for the full year, NII remained under pressure.
The report further mentioned that in the fourth quarter, median NIM rose by 5 basis points to 3.14%, as declining deposit costs outweighed the impact of lower loan yields and asset repricing. The firm anticipates a slight increase in earnings for 2025, driven by the possibility of higher NIMs and a gradual uptick in loan growth.
The banking sector remains a favorite among investors as it ranks among the top two sectors for dividend payments. An S&P Global report estimated that banks worldwide distribute approximately $380 billion in dividends. Given this, we will take a look at some of the best dividend stocks from the regional banking sector.
An investor confidently discussing portfolio options with their asset manager.
For this article, we used a Yahoo Finance screener to identify regional banking companies. From the resultant list, we picked 11 stocks with the highest number of hedge fund investors, as per Insider Monkey's database of Q4 2024. The stocks are ranked in ascending order of hedge funds' sentiment towards them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points ().
Number of Hedge Fund Holders: 67
The PNC Financial Services Group, Inc. (NYSE:PNC) is an American bank holding and financial services company that offers a wide range of related services to its consumers. The company delivered a strong performance in 2024 while continuing to invest in the long-term growth of its franchise. The bank expanded its customer base, strengthened client relationships, and remained committed to serving its stakeholders. It achieved record revenue and further reinforced its capital position. Meanwhile, PNC maintained a disciplined approach to cost management, resulting in positive operating leverage.
The PNC Financial Services Group, Inc. (NYSE:PNC) reported revenue of $5.6 billion in the fourth quarter of 2024, which showed a 4% growth from the same period last year. The company posted a net interest income of $3.5 billion, reflecting a 3% increase, or $113 million, primarily due to lower funding costs and the ongoing repricing of fixed-rate assets. The bank's net interest margin improved by 11 basis points, reaching 2.75%. Meanwhile, fee income declined by 4%, or $84 million, to $1.9 billion, as elevated residential mortgage and capital markets activity in the third quarter contributed to the decrease.
The PNC Financial Services Group, Inc. (NYSE:PNC) currently offers a quarterly dividend of $1.60 per share and has a dividend yield of 3.97%, as of April 3. The company returned $0.9 billion to shareholders in the most recent quarter, including $0.6 billion in dividends. In addition, PNC has been growing has dividends for 14 consecutive years, which makes it one of the best dividend stocks.
Overall, PNC ranks 1st on our list of the best dividend stocks from the regional banking sector. While we acknowledge the potential of PNC as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than PNC but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the .
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at .
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Business Upturn
19 minutes ago
- Business Upturn
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Intellia Therapeutics Announces Positive Three-Year Data from Phase 1 Trial of Lonvoguran Ziclumeran (lonvo-z) in Patients with Hereditary Angioedema (HAE) at the European Academy of Allergy and Clinical Immunology Congress
With up to three years of follow-up, a single dose of lonvo-z led to a 98% mean reduction in monthly HAE attack rate in all 10 patients All 10 patients were attack-free and treatment-free for a median of 23 months through the latest follow-up, demonstrating the potential of lonvo-z to become the first one-time therapy for most HAE patients Lonvo-z was well tolerated and continues to demonstrate a favorable safety profile The global Phase 3 HAELO trial of lonvo-z has concluded screening ahead of schedule with more than half screened from U.S. sites; Intellia to provide an update on enrollment in the future CAMBRIDGE, Mass., June 15, 2025 (GLOBE NEWSWIRE) — Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading clinical-stage gene editing company focused on revolutionizing medicine with CRISPR-based therapies, today announced three-year follow-up data from the Phase 1 portion of the ongoing Phase 1/2 study in patients with HAE after receiving a single dose of lonvoguran ziclumeran (lonvo-z, also known as NTLA-2002). Results were shared in an oral presentation at the European Academy of Allergy and Clinical Immunology (EAACI) Congress 2025, held June 13-16 in Glasgow, United Kingdom. 'Today's results underscore the promising potential of Intellia's approach to gene editing therapy – a one-time treatment that was well tolerated and offered a highly differentiated, durable effect for patients suffering from a serious disease,' said Intellia President and Chief Executive Officer John Leonard, M.D. 'Seeing all 10 patients in the Phase 1 portion of this study free from both HAE attacks and chronic therapy at nearly two years of median follow-up is incredibly encouraging. 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With up to 3 years of follow-up, no treatment-emergent serious adverse events were observed, and no treatment-related adverse events were observed during the period following 28 days after dosing. Clinical Development Plans Intellia's global Phase 3, randomized, double-blind, placebo-controlled HAELO trial is ongoing to assess the safety and efficacy of lonvo-z at the 50 mg dosage. The Company announced today the HAELO trial has successfully completed screening ahead of schedule, with over half of the patients being screened in the United States. The study is no longer recruiting and Intellia will provide an update on enrollment in the future. New and longer-term data from the Phase 2 portion of the ongoing Phase 1/2 study is planned to be presented in the second half of 2025. Intellia expects to submit a biologics license application (BLA) in 2026 to support the Company's plans for a U.S. launch in 2027. For more information on HAELO (NCT06634420), please visit About the Lonvoguran Ziclumeran (lonvo-z, also known as NTLA-2002) Clinical Program Intellia's ongoing Phase 1/2 study is evaluating the safety and efficacy of lonvo-z in adults with Type I or Type II hereditary angioedema (HAE). The Phase 1 portion of the study is an international, open-label study designed to identify the dose level of lonvo-z selected for further evaluation in the Phase 2 portion of the study. Enrollment in both portions of the Phase 1/2 study is complete. Intellia dosed the first patient in the global Phase 3, randomized, double-blind, placebo-controlled HAELO trial in January of 2025. Visit (NCT05120830) for more details. About Lonvo-z Based on Nobel Prize-winning CRISPR/Cas9 technology, lonvo-z has the potential to become the first one-time treatment for hereditary angioedema (HAE). 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These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia's beliefs and expectations concerning: the safety, efficacy, success and advancement of its clinical programs for lonvoguran ziclumeran or 'lonvo-z' (also known as NTLA-2002) for hereditary angioedema ('HAE'), including the ability to successfully complete its global Phase 3 HAELO study; its expectation to present additional data regarding lonvo-z, including reporting outcomes of the Phase 3 HAELO study in the first half of 2026 and presenting new and longer-term data from the Phase 2 portion of the ongoing Phase 1/2 study of lonvo-z in the second half of 2025; and its expectation to be able to support a biologics license application for lonvo-z for the treatment of HAE by 2026 for a U.S. launch in 2027. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to Intellia's ability to protect and maintain its intellectual property position; risks related to Intellia's relationship with third parties, including its contract manufacturers, licensors and licensees; risks related to the ability of its licensors to protect and maintain their intellectual property position; risks related to Intellia's ability to protect and maintain its intellectual property position; risks related to valid third party intellectual property; risks related to Intellia's relationship with third parties, including its licensors and licensees; risks related to the ability of its licensors to protect and maintain their intellectual property position; uncertainties related to regulatory agencies' evaluation of regulatory filings and other information related to our product candidates, including lonvo-z; uncertainties related to the authorization, initiation and conduct of studies and other development requirements for our product candidates, including uncertainties related to regulatory approvals to conduct clinical trials, including our ability to complete the Phase 3 HAELO study for HAE; the risk that any one or more of Intellia's product candidates, including lonvo-z, will not be successfully developed and commercialized; and the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies for the same product candidate or Intellia's other product candidates. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia's actual results to differ from those contained in the forward-looking statements, see the section entitled 'Risk Factors' in Intellia's most recent annual report of Form 10-K and quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in Intellia's other filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law. Intellia Contacts: Investors:Brittany ChavesSenior Manager, Investor Relations [email protected]
Business Wire
3 hours ago
- Business Wire
Cosmetics Industry Icon Leonard A. Lauder, Chairman Emeritus, The Estée Lauder Companies, Passes Away
NEW YORK--(BUSINESS WIRE)--It is with deep sadness that The Estée Lauder Companies Inc. (NYSE: EL) announces that Chairman Emeritus Leonard A. Lauder passed away on June 14, at the age of 92, surrounded by family. Mr. Lauder was born in 1933 in New York City, the oldest son of Estée and Joseph H. Lauder, the founders of The Estée Lauder Companies. He was a graduate of the Bronx High School of Science, the University of Pennsylvania's Wharton School, and the Officer Candidate School of the United States Navy. Mr. Lauder studied at Columbia University's Graduate School of Business. He served as a lieutenant in the U.S. Navy and as a Navy reservist, for which the U.S. Navy Supply Corps Foundation later recognized him with its Distinguished Alumni Award. He formally joined Estée Lauder in 1958, and for more than six decades, Mr. Lauder was a visionary and an innovator, helping transform the business from a handful of products sold under a single brand in U.S. stores to the multi-brand, global leader in prestige beauty that it is today. 'Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering many of the innovations, trends, and best practices that are foundational to the industry today,' said William P. Lauder, son and Chair, Board of Directors, The Estée Lauder Companies. 'He was the most charitable man I have ever known, believing that art and education belonged to everyone, and championing the fight against diseases such as Alzheimer's and breast cancer. Above all, my father was a man who practiced kindness with everyone he met. His impact was enormous. He believed that employees were the heart and soul of our company, and they adored him and moments spent with him. His warmth and thoughtfulness made an imprint on our company, the industry, and, of course, our family. Together with my family, The Estée Lauder Companies, and the countless people he touched, we celebrate his extraordinary life.' Mr. Lauder served as President of The Estée Lauder Companies from 1972 to 1995 and as Chief Executive Officer from 1982 through 1999. He was named Chairman in 1995 and served in that role through June 2009. Throughout his tenure at the company, Mr. Lauder consistently challenged the status quo, developing and implementing innovative sales and marketing programs that revolutionized the beauty industry. He created the company's first research and development laboratory, brought in professional management at every level, and was the driving force behind The Estée Lauder Companies' international expansion, helping to increase the company's sales and profits exponentially. A legendary brand builder, Mr. Lauder led the launch of many brands including Aramis, Clinique, and Lab Series, among others. Until his death, he remained deeply involved in the company's acquisition strategy, including the acquisitions of Aveda, Bobbi Brown, Jo Malone London, La Mer, and M∙A∙C. Speaking for The Estée Lauder Companies, President and Chief Executive Officer Stéphane de La Faverie said, 'Leonard Lauder was beloved by many and will be missed tremendously. To our employees at The Estée Lauder Companies, he was an inspiration and a champion. To the industry, he was an icon and pioneer, earning respect worldwide. His energy and vision helped shape our company and will continue to do so for generations to come. He was a deeply compassionate leader who cared profoundly about every person in the company. I feel privileged to have worked with Leonard, who has been the best mentor I could have dreamt to learn from. He will be remembered by all of us.' During his many years as Chairman Emeritus, Mr. Lauder was closely involved in the business and day-to-day operations of the company and was a constant fixture at The Estée Lauder Companies' global headquarters in New York and at our stores and counters across the globe until the time of his death. Mr. Lauder believed that each of his colleagues was like a member of his family and treated them as such. The values that continue to set the company apart are the values he so strongly believed in and embodied, most notably generosity of spirit and kindness toward all. Perhaps the role Mr. Lauder was most proud of was the unofficial one as The Estée Lauder Companies' 'chief teaching officer.' He believed that a company's wealth is its people and focused on mentoring and fostering growth within the company's diverse talent pool. He believed strongly in the importance of recognition and gratitude and was a tireless advocate for employees. At the onset of the global pandemic in 2020, Mr. Lauder was instrumental in setting up the ELC Cares Employee Relief Fund to support the physical, mental, and emotional well-being of employees and their families. Mr. Lauder was deeply involved in medical research, education, art, foreign policy, and philanthropy, and the marks he made on those worlds were transformational. Mr. Lauder believed passionately in the importance of public access to art and museums, which inspired his philosophy that the primary role of a collector was to conserve, not possess. He was a long-time supporter of the Metropolitan Museum of Art (the Met) and, in 2013, pledged his 78-piece collection of Cubist art to the museum in the largest single philanthropic gift in the Met's history. He later added five major works to that promised gift. In concert with his Cubist collection donation, he helped establish the Leonard A. Lauder Research Center for Modern Art at the Met to support a robust program of fellowships, focused exhibitions, and public lectures. Along with his prominent presence at the Met, he also served as the Whitney Museum of American Art's Chairman Emeritus and a trustee from 1977 to 2011. Throughout his life, he donated works of art and endowed curatorial positions and research departments to numerous institutions. Mr. Lauder was a long-time advocate of cancer research and served as Honorary Chairman of the board of directors at the Breast Cancer Research Foundation, the organization his beloved late-wife, Evelyn H. Lauder, founded in 1993. He also championed the fight against Alzheimer's by co-founding and leading the Alzheimer's Drug Discovery Foundation with his brother, Ronald S. Lauder, which supports cutting-edge drug research. Mr. Lauder remained actively engaged with these organizations until his death, and they were extraordinarily dear to his heart. Remembering his brother, Ronald S. Lauder, Chairman, Clinique Laboratories, LLC at The Estée Lauder Companies, said, 'Leonard was a wonderful brother and a devoted husband, father, grandfather, great-grandfather, uncle, colleague, and friend. But his legacy extends far beyond being the heart of our family. His impact will be felt for generations to come thanks to his tireless philanthropy, advocacy, and creativity in tackling some of the world's greatest challenges. The number of lives he touched and positively impacted across all his endeavors is immeasurable. His passion and generosity have inspired us all, and there are no words to express how much he will be missed.' 'My father was a remarkable man, a leader in business, a devoted philanthropist, and a deeply loving father, grandfather, and great-grandfather,' said Gary M. Lauder, son and Member, Board of Directors, The Estée Lauder Companies. 'His energy, sharp intellect, and generous spirit touched the lives of so many across the world. To me, he was also a constant source of encouragement, wisdom, and love. His legacy is vast, not only in the beauty industry, but in the countless lives improved by his charitable efforts and his passionate commitment to the arts, education, and healthcare. He was not only well-respected and admired, but he was also adored by his employees and colleagues. This affection stands out for me. While we mourn his passing, we also celebrate his extraordinary life, his lasting contributions, and the values he instilled in all of us: integrity, curiosity, and the importance of giving back. He will be missed more than words can express.' Mr. Lauder believed in the value of education and supported a variety of academic institutions. He was an emeritus trustee of the University of Pennsylvania and a founding member of the board of governors of its Joseph H. Lauder Institute of Management and International Studies, along with his brother, Ronald. His passion for education continued into the public space, having supported several schools in the New York area and receiving the honor of being an inductee into the Bronx High School of Science Hall of Fame in 2017. When the pandemic in 2020 magnified the nation's acute shortage of quality primary care in underserved communities, Mr. Lauder worked with the University of Pennsylvania to create a tuition-free program to educate nurse practitioners. His donation of $125 million, the largest gift ever to an American nursing school, made possible the Leonard A. Lauder Community Care Nurse Practitioner Program at the University of Pennsylvania. Mr. Lauder worked throughout his life to promote dialogue among governments, political and non-governmental organizations, and the public and private sectors, believing that this interdisciplinary dialogue is crucial to progress. He served as a member of the Council on Foreign Relations and as Chairman Emeritus and a lifetime trustee on the board of directors at the Aspen Institute. He felt that public service was a person's duty and, in addition to his time in the U.S. Navy, later served on the Advisory Committee for Trade Negotiations under President Ronald Reagan from 1983–1987. Throughout his lifetime, Mr. Lauder was honored with a myriad of awards, including the 'Lone Sailor' Award given by the U.S. Navy Supply Corps Foundation, the Légion d'Honneur given by the government of France, the Women's Leadership Award given by the Lincoln Center Corporate Fund Women's Leadership Council, and the Palazzo Strozzi Renaissance Man of the Year Award. In 2020, he was inducted into the Retail Hall of Fame by the World Retail Congress. The Lauder family received the esteemed 2011 Carnegie Medal of Philanthropy in recognition of its long-standing commitment to philanthropy and public service. In 2014, Mr. Lauder was named a Living Landmark by the New York Landmarks Conservancy. Mr. Lauder and Ms. Glickman Lauder also received the Gordon Parks Foundation Patron of the Arts Award in 2016. Mr. Lauder shared many of the lessons he learned in business and life in his memoir, The Company I Keep: My Life in Beauty, published to great acclaim in 2020. He was married to Evelyn H. Lauder, Senior Corporate Vice President at The Estée Lauder Companies and the Founder of the Breast Cancer Research Foundation, from 1959 until she passed away in 2011. On January 1, 2015, Mr. Lauder married Judy Glickman Lauder, a philanthropist and internationally recognized photographer whose work is represented in more than 300 public and private collections, including the J. Paul Getty Museum, the Whitney Museum of Art, the Metropolitan Museum of Art, and the United States Holocaust Museum. Mr. Lauder considered himself lucky in love and believed that lightning really could strike twice. From the beginning, he was devoted to family. He loved his parents and adored his brother, Ronald, and the family Ronald built with Jo Carole. His nieces and their families held a special place in his heart. Mr. Lauder was grateful to his wife, Judy, for widening his family circle and cherished his stepchildren and their families. But mostly, he was extraordinarily proud of both of his sons, their families, and his grandchildren and great-grandchildren. He loved them so dearly. Mr. Lauder was a true visionary, fearless leader, and cherished friend to so many. He was the beacon of our company and the north star of an entire industry. The world is a better place because Leonard Lauder was in it. The Estée Lauder Companies extends our deepest sympathies to the entire Lauder family during this exceedingly difficult time. Mr. Lauder is survived by his wife, Judy Glickman Lauder; his son William P. Lauder; his son Gary M. Lauder and wife, Laura Lauder; five grandchildren, Rachel, Danielle, Djuna-Bear, Joshua, Eliana, two great-grandchildren, many stepchildren and step grandchildren, as well as his brother, Ronald S. Lauder, and wife, Jo Carole Lauder, and their daughters, Aerin Lauder and Jane Lauder. A private service will be held for friends and family. For those who wish, in lieu of flowers, memorial donations may be made to the Breast Cancer Research Foundation and the Alzheimer's Drug Discovery Foundation. The Estée Lauder Companies Inc. (ELC) is one of the world's leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company's products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.
