The PNC Financial Services Group (NYSE:PNC) Issues Earnings Results

The PNC Financial Services Group (NYSE:PNC) issued its quarterly earnings data on Tuesday. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01, RTT News reports. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The company’s quarterly revenue was down 8.2% compared to the same quarter last year.

The PNC Financial Services Group Stock Up 0.5 %

Shares of NYSE PNC opened at $147.25 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $58.58 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The stock’s fifty day simple moving average is $151.80 and its two-hundred day simple moving average is $141.68. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PNC. Morgan Stanley upped their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.46.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently made changes to their positions in PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $735,469,000. Moneta Group Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares in the last quarter. Morgan Stanley lifted its position in The PNC Financial Services Group by 28.7% during the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after acquiring an additional 1,045,055 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after acquiring an additional 860,489 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in The PNC Financial Services Group by 58.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,329,672 shares of the financial services provider’s stock worth $293,422,000 after acquiring an additional 857,233 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

About The PNC Financial Services Group

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.