Analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will report $2.73 earnings per share (EPS) for the current fiscal quarter, Zacks reports. 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 reported earnings of $2.16 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The firm is expected to announce its next quarterly earnings results on Friday, October 12th.
According to Zacks, analysts expect that PNC Financial Services Group will report full year earnings of $10.72 per share for the current fiscal year, with EPS estimates ranging from $10.52 to $10.82. For the next financial year, analysts forecast that the business will report earnings of $11.63 per share, with EPS estimates ranging from $11.32 to $11.95. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover PNC Financial Services Group.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.23 billion. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%.
In related news, Director Martin Pfinsgraff bought 700 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The shares were acquired at an average price of $142.15 per share, for a total transaction of $99,505.00. Following the completion of the acquisition, the director now owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael P. Lyons sold 14,000 shares of the company’s stock in a transaction dated Thursday, July 19th. The stock was 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 approximately $17,586,351.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,247 shares of company stock worth $4,830,351. Corporate insiders own 0.38% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Schroder Investment Management Group raised its holdings in PNC Financial Services Group by 1,052.5% during the first quarter. Schroder Investment Management Group now owns 1,283,845 shares of the financial services provider’s stock worth $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 during the second quarter worth about $74,962,000. Janus Henderson Group PLC raised its holdings in PNC Financial Services Group by 37.6% during the second quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock worth $216,609,000 after acquiring an additional 437,808 shares in the last quarter. Jennison Associates LLC raised its holdings in PNC Financial Services Group by 5.7% during the second quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock worth $880,971,000 after acquiring an additional 353,976 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in PNC Financial Services Group by 932.7% during the second quarter. Advisors Asset Management Inc. now owns 382,419 shares of the financial services provider’s stock worth $4,098,000 after acquiring an additional 345,388 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Shares of PNC Financial Services Group stock traded down $0.98 during trading on Thursday, reaching $143.20. The stock had a trading volume of 2,254,400 shares, compared to its average volume of 2,214,510. The firm has a market cap of $66.65 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.30 and a beta of 0.90. PNC Financial Services Group has a 52 week low of $119.77 and a 52 week high of $163.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.91 and a quick ratio of 0.90.
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.
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