PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 5, 2026
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Credit Ratings and Outlook
The following table presents credit ratings and outlook for The PNC Financial Services Group, Inc. and PNC Bank as of June 30, 2026:
Table 29: Credit Ratings and Outlook
| June 30, 2026 | ||||
| Moody’s | S&P (a) | Fitch | DBRS (b) | |
| The PNC Financial Services Group, Inc. | ||||
|---|---|---|---|---|
| Senior debt | A3 | A- | A | AA (low) |
| Subordinated debt | A3 | BBB+ | A- | A (high) |
| Preferred stock | Baa2 | BBB- | BBB | A (low) |
| PNC Bank | ||||
| Senior debt | A2 | A | A+ | AA |
| Subordinated debt | A2 | A- | A | AA (low) |
| Long-term deposits | Aa3 | no rating | AA | AA |
| Short-term deposits | P-1 | no rating | F1+ | no rating |
| Short-term notes | P-1 | A-1 | F1 | R-1 (high) |
| The PNC Financial Services Group, Inc. | ||||
| Agency rating outlook | Stable | Stable | Stable | Stable |
(a)S&P does not provide depositor ratings. PNC Bank’s long term issuer rating is A and short term issuer rating is A-1.
(b)DBRS does not provide a short-term depositor rating. PNC Bank’s short-term instrument rating is R-1 (high).
Capital Management
Detailed information on our capital management processes and activities is included in the Supervision and Regulation section of Item 1 of our 2025 Form 10-K.
We manage our funding and capital positions by making adjustments to our balance sheet size and composition, issuing or redeeming debt, issuing equity or other capital instruments, executing treasury stock transactions and capital redemptions or repurchases, and managing dividend policies and retaining earnings.
In the second quarter of 2026, PNC returned $1.3 billion of capital to shareholders, reflecting $0.7 billion of dividends on common shares and $0.6 billion of common share repurchases. The SCB framework permits capital return in amounts in excess of SCB minimum levels. Consistent with this framework, PNC had approximately 29% of the 100 million common shares still available for repurchase at June 30, 2026 under the repurchase program previously approved by our Board of Directors. Share repurchase activity in the third quarter of 2026 is expected to approximate second quarter of 2026 share repurchase levels. PNC may adjust share repurchase activity depending on market and economic conditions, as well as other factors. PNC’s SCB will be maintained at the regulatory minimum of 2.5% through September 30, 2027.
On July 6, 2026, the PNC Board of Directors raised the quarterly cash dividend on common stock to $2.00 per share, an increase of 30 cents, or 18%. The dividend is payable on August 5, 2026 to shareholders of record at the close of business July 20, 2026.
The PNC Financial Services Group, Inc. –Form 10-Q 33
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