PNC Financial Services Group Inc The
- PNC Financial Services declined 0.6% to $126.25 after the regional bank reported lower-than-expected revenue in its latest quarter.
Revenue increased to $5.3 billion from $5.1 billion and net income edged up $1.5 billion from $1.49 billion and diluted earnings per share edged down to $3.36 from $3.39 a year ago.
Tangible book value per share increased to $77.80 from $74.39 from a year ago.
Average loans in the quarter increased to $324.5 billion from $304.8 billion and average deposits declined to $425.7 billion from $446.5 billion from a year ago.
Net interest rate margin expanded to 2.79% from 2.5%.
The bank lowered its annual net interest income increase range between 5% and 6% from the previous range between 6% and 8%.
Jul 18, 2023 - PNC Financial Services Group, Inc said total revenue in the first quarter increased 19% to $5.6 billion and net income rose to $1.7 billion from $1.4 billion and diluted earnings per share increased to $3.98 from $3.23 a year ago.
Net interest rate margin in the first quarter decreased to 2.82% from 2.92% in the fourth quarter of 2022 but rose from 2.28% in the quarter a year ago. Average deposits in the quarter dropped to $436.2 billion from $453.3 billion but average loans increased to $325. 5 billion from $290.7 billion a year ago.
Provision for credit losses in the first quarter of 2023 declined to $235 million from $408 million in the fourth quarter 2022.
Apr 14, 2023
| Year | Mar | Jun | Sep | Dec | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 3.98 | 3.36 | 3.60 | - | - | |
| 2022 | 3.23 | 3.39 | 3.78 | 3.45 | 13.85 | |
| 2021 | 4.1 | 2.43 | 3.3 | 2.86 | 12.7 | |
| 2020 | 1.95 | 8.4 | 3.39 | 3.26 | 16.96 | |
| 2019 | 2.61 | 2.88 | 2.94 | 2.97 | 11.39 | |
| 2018 | 2.43 | 2.72 | 2.82 | 2.74 | 10.71 | |
| 2017 | 1.96 | 2.10 | 2.16 | 2.29 | 8.51 | |
| 2016 | 1.68 | 1.82 | 1.84 | 1.97 | 7.31 | |
| 2015 | 1.75 | 1.88 | 1.90 | 1.87 | 7.4 | |
| 2014 | 1.82 | 1.85 | 1.79 | 1.84 | 7.3 | |
| 2013 | 1.74 | 1.98 | 1.77 | 1.87 | 7.36 | |
| 2012 | 1.44 | 0.98 | 1.64 | 1.22 | 5.28 | |
| 2011 | 1.57 | 1.67 | 1.55 | 0.85 | 5.64 | |
| 2010 | 0.66 | 1.47 | 2.07 | 1.54 | 5.74 | |
| 2009 | 1.03 | 0.14 | 1.00 | 2.19 | 4.36 | |
| 2008 | 1.09 | 1.45 | 0.70 | -0.80 | 2.44 | |
| 2007 | 1.46 | 1.22 | 1.19 | 0.45 | 4.32 | |
| 2006 | 1.19 | 1.28 | 5.01 | 1.25 | 8.73 | |
| 2005 | 1.24 | 0.98 | 1.14 | 1.19 | 4.55 |