PNC Financial Services Group Inc.’s stock PNC slid 3% in premarket trade Tuesday, after the regional bank’s second-quarter revenue fell short of estimates. Pittsburgh-based PNC posted net income of $1.500 billion, or $3.36 a share, compared with $1.496 billion, or $3.39 a share, in the year-earlier period. Revenue rose to $5.293 billion from $5.116 billion. The FactSet consensus was for EPS of $3.29 and revenue of $5.449 billion. Loans were stable but deposits fell by 2%, the bank said in a statement. Net interest income fell by 2% to $3.5 billion, while net interest margins fell by 5 basis points. Fee income declined by 6% amid a $58 million decline in mortgage servicing. Noninterest income fell 50%. The bank set aside $146 million for loan losses, down from $235 million in the first quarter. The stock has fallen 19% in the year to date, while the S&P 500 SPX has gained 17.8%.
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