New York, Jan 23, 2026, 15:04 EST — Regular session
- PNC shares slipped roughly 1.4% in afternoon trading, continuing their retreat from earlier gains this week
- A filing revealed PNC plans to sell $1.5 billion in subordinated notes maturing in 2041, coupled with another $1.5 billion in senior notes due 2029
- Investors are focused on next week’s Federal Reserve decision and banks’ commentary on net interest income pressure
Shares of PNC Financial Services Group (PNC.N) slipped 1.4% to $218.91 by 3:04 p.m. EST on Friday, dragged down alongside other regional bank stocks. The SPDR S&P Regional Banking ETF, which tracks a group of U.S. regional banks, dropped roughly 3%.
The timing is key. As the market approaches the Federal Reserve’s Jan. 27–28 policy meeting, bank investors are zeroed in on rate projections and their impact on earnings potential. (Federal Reserve)
First Citizens BancShares warned of weaker net interest income in 2026, the spread between loan earnings and deposit costs. “NII is expected to hit its lowest point in Q1 2026,” CFO Craig Nix said. Shares fell roughly 8% on Friday. (Reuters)
PNC took another step into the DIY investing space. The bank announced that online-banking users can now open and fund individual brokerage accounts digitally via PNC Wealth Management. Features include $0 commission on online stock and ETF trades, plus the option to buy fractional shares. “This new digital experience is about meeting clients where they are,” said Rich Guerrini, president of PNC Wealth Management. (PNC Financial Services Group – MediaRoom)
A separate filing revealed PNC is raising $1.5 billion through a sale of 5.423% fixed-rate reset subordinated notes maturing in 2041, with settlement expected on Jan. 26. These subordinated notes rank below senior debt in case of default, and will reset in 2036 to a rate tied to the five-year U.S. Treasury plus 1.170%, according to the document. (The PNC Financial Services Group, Inc.)
An SEC prospectus supplement outlined a simultaneous offering of $1.2 billion in 4.075% fixed-to-floating senior notes due 2029, alongside $300 million in floating-rate senior notes maturing the same year. The floating-rate notes are tied to SOFR — the key U.S. overnight benchmark — plus 0.610% and 0.620%. PNC indicated that the proceeds might fund general corporate purposes, including debt repayment and share buybacks. (SEC)
PNC’s shares hovered close to a new 52-week peak earlier this week, but sentiment shifted on Thursday. The stock slipped 1.55% to close at $222, even as the wider market edged higher, according to MarketWatch data. (MarketWatch)
Shareholders get the picture: fee-driven areas like wealth management provide support, but funding costs and loan yields remain the main drivers when rates fluctuate and deposit betas change.
But the trade can flip. Quicker rate cuts or intensified competition for deposits could tighten net interest income, while a weakening economy might boost credit losses and pressure capital returns.
The upcoming checkpoints are near. Investors are focused on the settlement of PNC’s note offerings set for Jan. 26, alongside the Fed’s Jan. 28 decision and press conference, hunting for any clues that might alter the rate outlook and, in turn, bank margin projections. (Federal Reserve)
