Stock analysts expect The PNC Financial Services Group, Inc. (NYSE:PNC – Get a rating) to report earnings per share of $3.33 for the current fiscal quarter, according to Zacks Investment Research. Six analysts made earnings estimates for The PNC Financial Services Group. The highest EPS estimate is $3.57 and the lowest is $3.16. PNC Financial Services Group reported earnings per share of $4.10 in the same quarter last year, suggesting a negative 18.8% year-over-year growth rate. The company is expected to release its next results before the market opens on Monday, January 1.
According to Zacks, analysts expect PNC Financial Services Group to report annual earnings of $14.24 per share for the current year, with EPS estimates ranging from $13.20 to $14.60 . For next year, analysts expect the company to post earnings of $15.79 per share, with EPS estimates ranging from $15.00 to $16.55. Zacks EPS averages are an average based on a survey of analysts who follow the PNC Financial Services Group.
The financial services group PNC (NYSE: PNC – Get a rating) last reported its quarterly earnings data on Tuesday, January 18. The financial services provider reported earnings per share of $3.68 for the quarter, beating analyst consensus estimates of $3.61 by $0.07. The PNC Financial Services group achieved a return on equity of 12.86% and a net margin of 28.81%. The company posted revenue of $5.13 billion for the quarter, versus analyst estimates of $5.10 billion. In the same period a year earlier, the company had earned earnings per share of $3.26.
A number of equity research analysts have recently commented on the company. UBS Group assumed coverage of financial services group PNC in a Thursday, Dec. 9 report. They set a “buy” rating and a target price of $240.00 for the business. Raymond James raised its price target on PNC Financial Services Group from $215.00 to $230.00 and gave the stock an “outperform” rating in a Thursday, January 20 report. Argus raised its price target on PNC Financial Services Group from $220.00 to $245.00 in a Wednesday, January 19 report. Credit Suisse Group raised its price target on PNC Financial Services Group from $203.00 to $207.00 and gave the company a “neutral” rating in a Wednesday, January 19 report. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of The PNC Financial Services Group in a report on Friday, December 17. One analyst rated the stock with a sell rating, ten gave the stock a hold rating, and eleven gave the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $220.21.
Shares of PNC Financial Services Group traded at $3.22 on Friday, hitting $196.47. 1,607,801 shares were traded, against an average volume of 2,498,176. The company has a quick ratio of 0.78, a current ratio of 0.78 and a leverage ratio of 0.55. PNC Financial Services Group has a 12-month low of $170.14 and a 12-month high of $228.14. The company has a market capitalization of $82.21 billion, a price/earnings ratio of 15.48, a PEG ratio of 0.83 and a beta of 1.29. The company has a 50-day moving average price of $199.27 and a two-hundred-day moving average price of $201.88.
The company also recently announced a quarterly dividend, which was paid on Saturday, February 5. Shareholders of record on Tuesday, January 18 received a dividend of $1.25. This represents an annualized dividend of $5.00 and a yield of 2.54%. The ex-dividend date was Friday, January 14. The payout ratio of PNC Financial Services Group is currently 39.40%.
In other news from The PNC Financial Services Group, EVP Michael P.Lyons sold 5,500 shares of the company in a transaction on Monday, March 14. The stock was sold at an average price of $182.59, for a total value of $1,004,245.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.30% of the shares are held by insiders.
A number of institutional investors have recently changed their positions in the stock. Norges Bank acquired a new equity position in The PNC Financial Services Group in the fourth quarter valued at approximately $809,193,000. MFA Wealth Advisors LLC increased its holdings of PNC Financial Services Group shares by 16,588.9% in the third quarter. MFA Wealth Advisors LLC now owns 3,655,046 shares of the financial services provider valued at $4,099,000 after purchasing an additional 3,633,145 shares in the last quarter. Wellington Management Group LLP increased its holdings of The PNC Financial Services Group shares by 15.3% in the third quarter. Wellington Management Group LLP now owns 16,743,639 shares of the financial services provider valued at $3,275,724,000 after purchasing an additional 2,221,691 shares last quarter. Capital Research Global Investors increased its holdings of The PNC Financial Services Group shares by 10.7% in the fourth quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider valued at $3,400,329,000 after buying an additional 1,639,724 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings of shares in The PNC Financial Services Group by 462.8% in the third quarter. Voya Investment Management LLC now owns 846,755 shares of the financial services provider valued at $165,659,000 after buying an additional 696,308 shares last quarter. Institutional investors hold 82.59% of the company’s shares.
PNC Financial Services Group Company Profile (Get a rating)
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.
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