PNC Financial Services Group Inc (NYSE:PNC) declared a quarterly dividend on Monday, July 8th, RTT News reports. Stockholders of record on Friday, July 19th will be paid a dividend of 1.15 per share by the financial services provider on Monday, August 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, July 18th. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.95.
PNC Financial Services Group has increased its dividend by an average of 19.2% annually over the last three years and has increased its dividend every year for the last 8 years. PNC Financial Services Group has a payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PNC Financial Services Group to earn $12.03 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 38.2%.
PNC Financial Services Group stock opened at $142.19 on Tuesday. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $147.23. The business’s 50-day moving average is $135.44. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.88.
PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, hitting the consensus estimate of $2.61. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. During the same period last year, the company earned $2.43 earnings per share. On average, sell-side analysts anticipate that PNC Financial Services Group will post 11.32 earnings per share for the current fiscal year.
PNC has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price objective on the stock. Zacks Investment Research downgraded Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays raised their target price on Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley set a $36.00 target price on ArcBest and gave the stock a “hold” rating in a research note on Monday, July 8th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $142.99.
In related news, insider Joseph E. Rockey sold 6,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider now directly owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% 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. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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