Equities research analysts expect PNC Financial Services Group Inc (NYSE:PNC) to report earnings of $2.73 per share for the current quarter, according to Zacks. Five analysts have made estimates for PNC Financial Services Group’s earnings, with the lowest EPS estimate coming in at $2.68 and the highest estimate coming in at $2.77. PNC Financial Services Group posted earnings per share of $2.16 during the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The business is expected to issue its next quarterly earnings results on Friday, October 12th.
On average, analysts expect that PNC Financial Services Group will report full-year earnings of $10.72 per share for the current year, with EPS estimates ranging from $10.52 to $10.82. For the next financial year, analysts expect that the company will report earnings of $11.63 per share, with EPS estimates ranging from $11.32 to $11.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for PNC Financial Services Group.
Separately, Bank of America lifted their price target on shares of PNC Financial Services Group from $166.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Seventeen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and an average price target of $150.87.
Shares of PNC stock traded up $0.33 during trading hours on Monday, hitting $144.88. 1,721,400 shares of the company’s stock were exchanged, compared to its average volume of 2,255,624. The company has a market capitalization of $66.65 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.94. PNC Financial Services Group has a 12-month low of $119.77 and a 12-month high of $163.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91.
The company also recently announced a quarterly dividend, which was paid on Monday, August 6th. Stockholders of record on Tuesday, July 17th were issued a $0.95 dividend. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, July 16th. This represents a $3.80 annualized dividend and a dividend yield of 2.62%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 44.71%.
In related news, insider Michael P. Lyons sold 14,000 shares of PNC Financial Services Group stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $140.87, for a total value of $1,972,180.00. Following the sale, the insider now owns 124,841 shares in the company, valued at $17,586,351.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff purchased 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The stock was bought at an average price of $142.15 per share, for a total transaction of $99,505.00. Following the acquisition, the director now owns 1,050 shares of the company’s stock, valued at $149,257.50. The disclosure for this purchase can be found here. Insiders sold 34,247 shares of company stock worth $4,830,351 in the last 90 days. Company insiders own 0.38% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PNC. Schroder Investment Management Group boosted its holdings in PNC Financial Services Group by 1,052.5% in the first quarter. Schroder Investment Management Group now owns 1,283,845 shares of the financial services provider’s stock valued at $194,169,000 after acquiring an additional 1,172,445 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in PNC Financial Services Group in the second quarter valued at $74,962,000. Janus Henderson Group PLC boosted its holdings in PNC Financial Services Group by 37.6% in the second quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock valued at $216,609,000 after acquiring an additional 437,808 shares in the last quarter. Jennison Associates LLC boosted its holdings in PNC Financial Services Group by 5.7% in the second quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock valued at $880,971,000 after acquiring an additional 353,976 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in PNC Financial Services Group by 932.7% in the second quarter. Advisors Asset Management Inc. now owns 382,419 shares of the financial services provider’s stock valued at $4,098,000 after acquiring an additional 345,388 shares in the last quarter. Institutional investors and hedge funds own 81.85% 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 and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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.
Recommended Story: Understanding Price to Earnings Ratio (PE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.