PNC Bank is the operating subsidiary of PNC Financial Services (PNC 0.29%). It has been around for many years and was founded in 1845 (initially as the Pittsburgh Trust and Savings Company).
The company has been in its current form with its current name since 1982. At that time, Pittsburgh National Corporation and Provident National Corporation merged in what was the largest bank merger in history. Since both happened to have the same initials, the new bank was given the name PNC Financial.
Today, PNC Bank is one of the largest regional banks in the United States and is considered a systemically important financial institution, or SIFI. It has over 2,600 branches and 9,500 ATMs in 27 states and Washington, D.C.
Who owns PNC?
Who is the owner of PNC Bank?
PNC Financial Services, of which PNC Bank is the primary subsidiary, is a publicly traded bank stock and is not owned by any one person. PNC is a component of the S&P 500 and is one of the largest regional financial institutions in the United States.
Largest shareholders
Who are the largest shareholders?
There are three types of investors that are required to disclose their investments in publicly traded securities:
- The company's key executives and members of its board of directors.
- Institutional investors, hedge funds, and other entities that are required to file a Form 13-F with the U.S. Securities and Exchange Commission.
- Anyone who owns more than 5% of a company's shares.
PNC doesn't have any individual investors who own more than 5% of the bank's stock, but it certainly has plenty of individuals in the first two categories. So, here are the top individual and institutional shareholders of PNC Financial, according to publicly available information.
Largest individual shareholders
As mentioned, unless they are a company insider, individual shareholders don't have to disclose their investments publicly unless they own more than 5% of a company's stock (in which case it will be listed in the annual proxy filing). So, it's entirely possible that these aren't the overall largest individual shareholders. But among PNC's executives and directors, here are the top individual stockholders:
- William Demchak owns 575,843 shares of PNC, a stake worth about $87 million as of April 2024. Demchak serves as PNC's CEO and chairman of the board.
- Michael Lyons owns 210,095 shares of PNC. Lyons is president of PNC and is the head of corporate and institutional banking.
- Andrew Feldstein owns 189,635 shares of PNC and is one of the company's board members.
- E. William Parsley owns 186,230 shares of PNC. Parsley is one of the bank's executive vice presidents and also serves as chief operating officer.
- Robert Reilly owns 166,028 shares of PNC Financial stock. Reilly is PNC's chief financial officer and is also an executive vice president of the bank.
Largest institutional investors
PNC Financial is included in several major stock indexes. The largest component of its institutional ownership is by index funds. Most notably, PNC is a component of the S&P 500 benchmark index, so every S&P 500 index fund is required to own shares of the bank. With that in mind, here's a rundown of the top institutional investors of PNC Financial:
- Vanguard is the largest institutional investor in PNC, with just over 37 million shares worth about $5.7 billion. As the leading index fund company, this shouldn't be much of a surprise. Vanguard's shares represent more than 8.8% of PNC.
- BlackRock (BLK -0.5%) owns 29.2 million shares of PNC, representing about 7% of the company.
- Fidelity Investments owns 18.3 million shares of PNC, a 4.4% stake worth about $2.8 billion.
- State Street Corp. (STT -0.13%) owns 17.2 million shares of PNC, about 4.1% of the entire company.
- Asset manager Capital International Group is the fifth-largest institutional shareholder, owning 15.7 million shares, or 3.8% of PNC.
Board of Trustees
A governing body responsible for overseeing an organization's policies, finances, and strategic decisions.
Board of directors
Who is on the board of directors for PNC Financial?
PNC Financial's board of directors has 12 members, each elected to a one-year term at the company's annual meeting. Here's the current list of directors, a bit about each, and how much PNC stock each board member owns.
- Joseph Alvarado is the retired CEO of Commercial Metals Company (CMC -1.38%) and has been a member of PNC's board of directors since 2019. He owns 7,110 shares of stock.
- Debra Cafaro has been on the board since 2017 and is currently the CEO of the large healthcare real estate investment trust Ventas (VTR 0.11%). She owns 13,959 shares of PNC stock.
- Marjorie Rodgers Cheshire has been a PNC director since 2014 and leads a real estate investment company. She owns 17,721 shares of PNC stock.
- William Demchak is PNC's CEO and chairman of the board. He has been with the bank since 2002 and has been on the board since his promotion to CEO in 2013. He owns 575,843 shares of PNC.
- Andrew Feldstein is the former chief investment officer for Assured Guaranty (AGO -0.47%) and its subsidiary BlueMountain (now known as Assured Investment Management). He has the largest ownership position out of the company's directors, owning 189,635 shares of PNC.
- Richard Harshman has been a director since 2019 and retired a few years ago from his role as CEO of Allegheny Technologies. He owns 8,662 shares of PNC.
- Daniel Hesse has been a PNC board member since 2016 and is a former CEO of Sprint, a role he held from 2007 until his retirement in 2014. He owns 15,181 shares of PNC.
- Renu Khator is one of the newer board members (added in 2022) and president of the University of Houston. She owns 3,085 shares of PNC stock.
- Linda Medler has been a director since 2018 and is a retired Air Force brigadier general and cybersecurity expert who previously served as chief information security officer for Raytheon Missile Systems. She owns 8,278 shares of PNC stock.
- Robert Niblock was added to the board in 2018 and is perhaps the highest-profile executive. He previously served as CEO of Lowe's (LOW -1.4%) for 13 years until his retirement in 2018. Niblock owns 9,353 shares of PNC.
- Martin Pfinsgraff has been a PNC director since 2018 and is a retired Senior Deputy Comptroller for Large Bank Supervision of the Office of the Comptroller of the Currency. He is a financial industry expert and owns 8,735 shares of the bank's stock.
- Bryan Salesky is an entrepreneur who founded the self-driving technology company Argo AI, among other companies. He owns 3,554 shares of PNC.
Related investing topics
How to invest
How to invest in PNC Financial
PNC Financial is a publicly traded company, meaning that anyone can invest in its stock by opening a brokerage account and depositing money.
If you don't have a brokerage account yet, you will need to open one before you can buy shares of PNC Financial. Once you've done that, you can buy shares. Here's a rundown of the basic steps to take:
- Research some of the top online brokers and decide which one is the best fit for your level of investing sophistication and offers the features that are important to you.
- Decide what type of account you want. If you plan to simply buy and sell stocks and want to be able to withdraw money at any time, a standard (taxable) brokerage account is right for you. If you're planning to invest for the long term, a retirement account such as a traditional or Roth IRA could be a good fit.
- Fill out the broker's new account application. You'll have to provide certain identifying information, such as your Social Security number, in order to complete this step.
- Fund your account. You can do this by transferring money from a linked checking or savings account, by wiring money, by mailing a check, or perhaps through some other methods.
- Decide how much money you want to invest in PNC Financial.
- Look at a stock quote for PNC Financial (ticker symbol PNC). You can find this on your broker's platform or through a third-party website like Yahoo! Finance or CNBC.
- Divide the amount you want to invest by the current price per share. If your broker allows you to trade fractional shares, use this number. If it doesn't, round down to the nearest whole number.
- Use your broker's order form, which is typically prominently displayed on the main page, to enter an order to buy your shares of PNC Financial. Decide if you want a market order or a limit order. The Motley Fool generally recommends a market order since it locks you into a guaranteed price.
FAQ
Who owns PNC Financial: FAQ
Who is the parent company of PNC Bank?
The parent company of PNC Bank is PNC Financial Services Group. It is a publicly traded company, using the ticker symbol PNC on the New York Stock Exchange, and it is a component of the large-cap benchmark index known as the S&P 500.
Who is the largest shareholder of PNC?
The largest shareholder of PNC Financial Services is Vanguard, which owns 8.8% of the bank’s shares. As a component of the S&P 500 and several other widely followed stock indexes, PNC Financial is required to be owned by some of the largest index funds, including the Vanguard S&P 500 Index Fund.
Who runs PNC?
PNC Bank is led by chairman and CEO William Demchak, President Michael Lyons, a 12-member board of directors, and several other key executives.
Is PNC Financial publicly traded?
Yes, PNC Financial Services is a publicly traded company. It is listed on the New York Stock Exchange under ticker symbol PNC and is a component of the large-cap S&P 500 benchmark index.
