PNC Financial Services Group (NYSE:PNC) released its quarterly earnings data on Friday. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.01, Bloomberg Earnings reports. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis.
PNC stock traded down $6.25 on Friday, hitting $145.46. 4,675,881 shares of the company were exchanged, compared to its average volume of 2,158,560. PNC Financial Services Group has a twelve month low of $115.45 and a twelve month high of $163.59. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $71,912.82, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91.
The business also recently declared a quarterly dividend, which will be paid on Saturday, May 5th. Investors of record on Monday, April 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, April 13th. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.29%.
PNC has been the topic of several recent research reports. Wells Fargo set a $149.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $162.00 price target on shares of PNC Financial Services Group in a report on Friday, December 22nd. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a report on Tuesday, December 26th. Barclays upped their price target on shares of PNC Financial Services Group from $139.00 to $168.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Goldman Sachs downgraded shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Twenty investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $146.89.
In related news, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the transaction, the insider now owns 58,820 shares of the company’s stock, valued at $9,070,044. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.
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