PNC Receives Regulatory Approval for FirstBank Acquisition, Closing Expected by January 2026
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 8 hour ago0mins
- Regulatory Approval: PNC Financial Services Group has received regulatory approvals from the Federal Reserve, the Office of the Comptroller of the Currency, and the Colorado Division of Banking, marking a significant milestone for the acquisition of FirstBank, with the transaction expected to close around January 5, 2026, thereby enhancing PNC's market position in the Southwest.
- Integration Plan: Following the closing, PNC will initiate the integration of FirstBank into its national platform, particularly focusing on treasury management, payments, and digital banking capabilities, with full customer conversion anticipated by mid-2026, which will further enhance service efficiency.
- Market Expansion: FirstBank, one of the largest privately held banks in the U.S., will significantly increase PNC's scale in the Rocky Mountain region and Arizona, enhancing its competitiveness and meeting the needs of a broader customer base.
- Strategic Importance: PNC CEO William Demchak stated that this acquisition will help PNC expand its capabilities nationwide, further solidifying its position as a diversified financial services institution and driving long-term growth.
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Analyst Views on PNC
Wall Street analysts forecast PNC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PNC is 222.53 USD with a low forecast of 200.00 USD and a high forecast of 240.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
14 Buy
4 Hold
1 Sell
Moderate Buy
Current: 211.490
Low
200.00
Averages
222.53
High
240.00
Current: 211.490
Low
200.00
Averages
222.53
High
240.00
Morgan Stanley
Underweight
maintain
$206 -> $209
2025-10-16
Reason
Morgan Stanley
Price Target
$206 -> $209
2025-10-16
maintain
Underweight
Reason
Morgan Stanley raised the firm's price target on PNC Financial to $209 from $206 and keeps an Underweight rating on the shares. Q4 and implied FY 25 guidance was slightly weaker than consensus expectations, but FY26 net interest income guidance is "positive" given it does not account for First Bank, the analyst tells investors in a post-earnings note.
Evercore ISI
Outperform
maintain
$220 -> $230
2025-09-30
Reason
Evercore ISI
Price Target
$220 -> $230
2025-09-30
maintain
Outperform
Reason
Evercore ISI raised the firm's price target on PNC Financial to $230 from $220 and keeps an Outperform rating on the shares. Regional bank and specialty finance trends "appear solid" for Q3, but full momentum in earnings might not be seen until early 2026, the analyst tells investors in a preview for the group.
Morgan Stanley
Underweight
maintain
$186 -> $206
2025-09-29
Reason
Morgan Stanley
Price Target
$186 -> $206
2025-09-29
maintain
Underweight
Reason
Morgan Stanley raised the firm's price target on PNC Financial to $206 from $186 and keeps an Underweight rating on the shares. The firm is rolling its valuation year from 2026 to 2027, which drives its large cap bank price targets up by a median 14%, the analyst tells investors. The firm is also updating its models to bake in three rate cuts in 2025 and three in 2026, the analyst noted.
Truist
John McDonald
Hold
maintain
$201 -> $210
2025-09-24
Reason
Truist
John McDonald
Price Target
$201 -> $210
2025-09-24
maintain
Hold
Reason
Truist analyst John McDonald raised the firm's price target on PNC Financial to $210 from $201 and keeps a Hold rating on the shares as part of a broader research note updating the firm's models on U.S. Banks. The firm is boosting its EPS estimates for FY25 by 10c and FY26 by 45c per share to $15.60 and $17.95 to reflect better assumptions for standalone PNC with less conservative net charge-offs and better fee growth, the analyst tells investors in a research note.
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About PNC
The PNC Financial Services Group, Inc. is a diversified financial services company in the United States. It is engaged in the delivery of retail and business banking, including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Its Retail Banking segment provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Its Corporate & Institutional Banking segment provides lending, treasury management, capital markets and advisory products and services to mid-sized and large corporations and government and not-for-profit entities. Its Asset Management Group segment provides private banking for high-net worth and ultra-high net worth clients and institutional asset management. The Company's bank subsidiary is PNC Bank.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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