Wall Street brokerages expect The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) to report earnings per share of $3.25 for the current quarter, according to Zacks. Seven analysts have made estimates for The PNC Financial Services Group’s earnings. The highest EPS estimate is $3.88 and the lowest is $2.92. The PNC Financial Services Group posted earnings of $4.50 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 27.8%. The business is expected to announce its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that The PNC Financial Services Group will report full year earnings of $14.05 per share for the current fiscal year, with EPS estimates ranging from $12.90 to $14.65. For the next year, analysts expect that the firm will report earnings of $16.38 per share, with EPS estimates ranging from $15.34 to $18.59. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow The PNC Financial Services Group.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.78 by $0.51. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.72 billion. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.10 EPS.
NYSE PNC traded down $1.86 during trading on Friday, reaching $157.44. 2,162,056 shares of the company traded hands, compared to its average volume of 2,437,288. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75. The stock’s 50 day moving average price is $179.60 and its two-hundred day moving average price is $196.23. The PNC Financial Services Group has a 1-year low of $156.20 and a 1-year high of $228.14. The company has a market cap of $65.11 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.23 and a beta of 1.24.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Wednesday, April 13th were given a dividend of $1.50 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a $6.00 dividend on an annualized basis and a yield of 3.81%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 50.76%.
In related news, EVP Michael P. Lyons sold 5,500 shares of The PNC Financial Services Group stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $182.59, for a total value of $1,004,245.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the transaction, the executive vice president now owns 23,360 shares in the company, valued at $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in The PNC Financial Services Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 37,277,399 shares of the financial services provider’s stock valued at $6,875,816,000 after purchasing an additional 349,470 shares during the last quarter. BlackRock Inc. grew its holdings in shares of The PNC Financial Services Group by 2.0% in the first quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock worth $5,637,484,000 after purchasing an additional 589,293 shares during the last quarter. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 2.8% during the fourth quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock valued at $3,951,231,000 after purchasing an additional 536,564 shares in the last quarter. Capital Research Global Investors raised its holdings in The PNC Financial Services Group by 10.7% in the fourth quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider’s stock worth $3,400,329,000 after purchasing an additional 1,639,724 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of The PNC Financial Services Group by 15.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,743,639 shares of the financial services provider’s stock valued at $3,275,724,000 after purchasing an additional 2,221,691 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors and hedge funds.
About The PNC Financial Services Group (Get 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, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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