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4-Traders Homepage  >  Equities  >  Nyse  >  PNC Financial Services Group    PNC

PNC FINANCIAL SERVICES GROUP (PNC)
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PNC Names Demchak President, Setting Potential Succession Path

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04/24/2012 | 08:30pm CEST

PNC Financial Services Group Inc. (>> PNC Financial Services) named longtime executive William S. Demchak as president, putting him on track for a potential future in the lender's corner office.

Demchak, 49 years old, has been senior vice chairman since 2009 and has held supervisory responsibility for all of PNC's businesses since 2010. He first joined the bank, which is one of the largest lenders in commercial real estate, in 2002 as its chief financial officer.

Prior to coming to PNC, Demchak worked as head of J.P. Morgan Chase & Co.'s (JPM) structured-finance and credit-portfolio unit.

PNC Chief Executive James E. Rohr, 63 as of March, has served as the lender's CEO since 2000. Rohr, who is also chairman of PNC's board, first joined the company in 1972.

Like its fellow lenders, PNC has been able to steadily reduce its funds set aside to cover risky loans as credit conditions in the U.S. continue to strengthen.

The company's first-quarter profit fell 3.8% as results took a hit from costs tied to its $3.45 billion acquisition of Royal Bank of Canada's (RY, RY.T) U.S. retail-banking unit.

Shares were recently up 34 cents to $65.32.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; [email protected]

Stocks mentioned in the article : PNC Financial Services
Stocks mentioned in the article
ChangeLast1st jan.
PNC FINANCIAL SERVICES GROUP -1.25% 148.76 Delayed Quote.4.41%
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Financials ($)
Sales 2018 17 137 M
EBIT 2018 6 878 M
Net income 2018 4 959 M
Debt 2018 -
Yield 2018 2,26%
P/E ratio 2018 14,08
P/E ratio 2019 12,86
Capi. / Sales 2018 4,13x
Capi. / Sales 2019 3,93x
Capitalization 70 730 M
Chart PNC FINANCIAL SERVICES GRO
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PNC Financial Services Gro Technical Analysis Chart | PNC | US6934751057 | 4-Traders
Technical analysis trends PNC FINANCIAL SERVICES GRO
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 162 $
Spread / Average Target 8,6%
EPS Revisions
Managers
NameTitle
William Stanton Demchak Chairman, President & Chief Executive Officer
E. William Parsley Chief Operating Officer & Executive Vice President
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Steven C. van Wyk Executive VP, Head-Technology & Innovation
Deborah Guild Chief Information & Security Officer
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