PNC Financial Services Group Inc. stock declined 5.2% on February 23, 2026, as part of a broader US banking sector selloff. According to Morningstar, bank stocks traded down by low-to-mid single digits due to three main factors: macro concerns stemming from tariff uncertainty, possible credit losses from an increase in the unemployment rate driven by artificial intelligence disruption, and private credit-related exposure concerns. Morningstar noted that median exposure to non-depository financial institutions across banks under coverage is about 11% of total loans. The analysis stated that US banks are well capitalized with buffers of 150 to 200 basis points or more above regulatory minimums. Following the selloff, Morningstar maintained fair value estimates for US banks and viewed the banking sector as roughly fairly valued, trading at approximately 1.0 times fair value estimates.
Read full analysisPNC Financial Services Group Inc. stock declined 5.2% on February 23, 2026, as part of a broader US banking sector selloff. According to Morningstar, bank stocks traded down by low-to-mid single digits due to three main factors: macro concerns stemming from tariff uncertainty, possible credit losses from an increase in the unemployment rate driven by artificial intelligence disruption, and private credit-related exposure concerns. Morningstar noted that median exposure to non-depository financial institutions across banks under coverage is about 11% of total loans. The analysis stated that US banks are well capitalized with buffers of 150 to 200 basis points or more above regulatory minimums. Following the selloff, Morningstar maintained fair value estimates for US banks and viewed the banking sector as roughly fairly valued, trading at approximately 1.0 times fair value estimates.
PNC Financial Services is one of the largest U.S. regional banks, headquartered in Pittsburgh, with over $400 billion in assets spanning retail banking, corporate lending, and asset management. The company reported record Q4 2025 revenue and EPS of $4.88 (beating $4.20 consensus) in January and recently closed its acquisition of FirstBank. As a major rate-sensitive regional bank, PNC is directly exposed to the broad financials selloff driven by tariff uncertainty and credit quality concerns that has made XLF the worst-performing sector for a second straight day.