The PNC Financial Services Group Inc (PNC) released its first quarter results on Friday, April 16, 2021. The company reported net earnings of $4.11 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 111 percent compared to the same period a year ago.
The PNC Financial Services Group, Inc. was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania. The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group.
The PNC Financial Services Group's revenue decreased 16 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 25.95% over the same period. Net earnings for past trailing twelve months were $3787.0 million, down 20% from the prior year.
Overall liquidity of the balance sheet, as measured by the current ratio, increased 448.19% this past year. The current ratio for The PNC Financial Services Group now stands at 0.71. The company increased share outstanding by 0.24%.
Shares of PNC are currently trading around $178.86. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 9.32 and price to book ratio of 59.07.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, April 19, 2021.