Big earnings day for financials

On a big day for financial services earnings, the news is mostly positive.

PNC Financial, the Pittsburgh-based bank, reported earnings of $1.85 per share for the second quarter, vs. $1.98 per share 12 months earlier.

PNC's loans grew $2.7 billion, or 1%, to $201 billion vs. the first quarter, and commercial lending grew $3.3 billion, or 3%.

The bank beat analysts' estimates, a recurring theme this earnings season. They had expected $1.78 per share. Nevertheless, PNC shares (ticker: PNC) fell 1.27% in after-hours trading.

Blackrock (BLK) saw earnings surge along with assets in the second quarter. The company posted second-quarter earnings of $4.72 a share, up from $4.19 a share a year earlier. Analysts expected $4.46 a share. The sponsor of iShares exchange-traded funds said it saw net inflows of $30.45 billion to its ETFs.

U.S. Bancorp says it earned 78 cents per share in the second quarter, up from 76 cents a share a year earlier. Loans grew 6.8%, or $15.3 billion, to $240 billion. The Minneapolis-based bank has largely ended its legal issues from the financial crisis, settling with the Justice Department for $200 million.

Charles Schwab & Co., the discount brokerage, reported second-quarter earnings of 23 cents per share, vs. 18 cents a year earlier. Client assets reached a record $2.4 trillion, Schwab says, and earnings of $650 million were the highest in the company's history.