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

The PNC Financial Services Group (NYSE:PNC) released its quarterly earnings results on Tuesday. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19, Briefing.com reports. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 earnings per share.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $192.48 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50-day simple moving average is $179.61 and its 200-day simple moving average is $166.61. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $196.64. The firm has a market cap of $76.59 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Barclays boosted their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Finally, UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $177.65.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares in the company, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares in the company, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,662 shares of company stock worth $4,442,555. Corporate insiders own 0.42% 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.