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PNC Bank stocks drop amid weak loan demand, rising costs

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PNC Bank (PNC) shares are down following lower third-quarter earnings. the company reported weak results in trading revenue, loan syndication, and merger and...

) shares are down following lower third-quarter earnings. the company reported weak results in trading revenue, loan syndication, and merger and acquisition revenue. PNC attributed the impact of higher rates on business investments and consumer spending, affecting their bottom line through mid-2024. Alexander Yokam, Senior Equity Research Analyst at CFRA Research, joined Yahoo Finance Live to weigh in, saying that businesses are “holding out hope” for rates to fall.

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