Goldman Sachs analyst Richard Ramsden anticipates a neutral investor response to PNC Financial Services Group, Inc.‘s (NYSE:PNC) stronger results and updated FY24 guidance. Today, the bank reported a revenue increase of 2% Y/Y to $5.411 billion, slightly missing the consensus of $5.412 billion, while adjusted EPS of $3.30 topped the consensus of $2.98. For FY24, PNC expects net interest income (NII) to decline 4%, revenue to be down 1%-2% (vs. consensus of roughly unchanged Y/Y), and average loan down less than 1% (vs. Street estimate of flat Y/Y). The analyst says that the third quarter 2024 guidance for NII, fee income, and expenses also suggests a slightly lower pre-provision net revenue (PPNR) compared to consensus. Overall, the updated FY2024 ...