Q1 2020 EPS Estimates for PNC Financial Services Group Inc Decreased by Jefferies Financial Group (NYSE:PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Jefferies Financial Group dropped their Q1 2020 earnings per share (EPS) estimates for PNC Financial Services Group in a research report issued to clients and investors on Wednesday, January 15th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $2.69 for the quarter, down from their previous forecast of $2.73. Jefferies Financial Group also issued estimates for PNC Financial Services Group’s Q4 2020 earnings at $3.14 EPS.

Other analysts have also issued research reports about the company. Odeon Capital Group started coverage on PNC Financial Services Group in a research note on Monday, November 25th. They issued a “hold” rating for the company. Royal Bank of Canada lowered PNC Financial Services Group from a “top pick” rating to an “outperform” rating and set a $155.00 price target for the company. in a research note on Monday, December 9th. Citigroup raised their price target on PNC Financial Services Group from $139.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Bank of America raised PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $144.00 to $178.00 in a research note on Thursday, January 9th. Finally, Zacks Investment Research raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $155.35.

Shares of PNC Financial Services Group stock opened at $153.36 on Friday. The company’s 50 day moving average price is $157.49 and its 200-day moving average price is $144.39. PNC Financial Services Group has a 52-week low of $118.70 and a 52-week high of $161.79. The stock has a market capitalization of $67.96 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.56 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.91.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.05. PNC Financial Services Group had a net margin of 24.83% and a return on equity of 10.92%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the business earned $2.75 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis.

Institutional investors have recently made changes to their positions in the business. Sigma Planning Corp lifted its position in PNC Financial Services Group by 9.0% during the third quarter. Sigma Planning Corp now owns 10,128 shares of the financial services provider’s stock valued at $1,420,000 after buying an additional 838 shares during the period. First Allied Advisory Services Inc. lifted its position in PNC Financial Services Group by 9.9% during the third quarter. First Allied Advisory Services Inc. now owns 11,732 shares of the financial services provider’s stock valued at $1,654,000 after buying an additional 1,056 shares during the period. Pictet Asset Management Ltd. raised its position in shares of PNC Financial Services Group by 4.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 247,219 shares of the financial services provider’s stock worth $34,650,000 after purchasing an additional 10,323 shares during the last quarter. Ingalls & Snyder LLC raised its position in shares of PNC Financial Services Group by 13.0% in the 3rd quarter. Ingalls & Snyder LLC now owns 1,674 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 192 shares during the last quarter. Finally, Empire Life Investments Inc. raised its position in shares of PNC Financial Services Group by 0.7% in the 2nd quarter. Empire Life Investments Inc. now owns 166,287 shares of the financial services provider’s stock worth $22,827,000 after purchasing an additional 1,149 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, EVP E William Parsley III sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $152.20, for a total transaction of $3,044,000.00. Also, EVP Joseph E. Rockey sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. The disclosure for this sale can be found here. Insiders sold 184,623 shares of company stock valued at $28,044,817 in the last ninety days. 0.37% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 17th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, January 16th. PNC Financial Services Group’s payout ratio is 40.39%.

PNC Financial Services Group Company Profile

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.

Further Reading: Cash Flow

Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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