PNC Financial Services Group (NYSE:PNC) posted its quarterly earnings data on Wednesday. The financial services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.05, RTT News reports. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.72 earnings per share.
Shares of PNC stock opened at $138.83 on Friday. PNC Financial Services Group has a one year low of $108.45 and a one year high of $147.23. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average is $136.20. The firm has a market capitalization of $62.67 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be given a dividend of $1.15 per share. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $4.60 annualized dividend and a yield of 3.31%. PNC Financial Services Group’s dividend payout ratio is 42.95%.
A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. UBS Group set a $169.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price objective for the company. Zacks Investment Research lowered shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $142.99.
In related news, insider Joseph E. Rockey sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider now owns 24,747 shares of the company’s stock, valued at $3,340,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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