Q2 2018 EPS Estimates for PNC Financial Services Group Inc Decreased by Jefferies Group (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Equities research analysts at Jefferies Group decreased their Q2 2018 earnings estimates for shares of PNC Financial Services Group in a research note issued on Sunday, April 15th. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $2.58 for the quarter, down from their prior forecast of $2.61. Jefferies Group also issued estimates for PNC Financial Services Group’s Q3 2018 earnings at $2.74 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $10.55 EPS and FY2019 earnings at $11.40 EPS.

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Several other analysts also recently issued reports on PNC. Wells Fargo set a $149.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $162.00 price target on shares of PNC Financial Services Group in a research note on Friday, December 22nd. Zacks Investment Research raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research note on Tuesday, December 26th. Barclays lifted their price target on PNC Financial Services Group from $139.00 to $168.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Goldman Sachs downgraded PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Nineteen 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 an average target price of $149.26.

Shares of PNC Financial Services Group stock opened at $141.66 on Wednesday. The firm has a market cap of $67,833.56, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.33 and a beta of 0.91. PNC Financial Services Group has a 12 month low of $115.66 and a 12 month high of $163.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 0.94.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.01. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.14 billion. PNC Financial Services Group had a return on equity of 9.83% and a net margin of 29.85%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 5th. Investors of record on Monday, April 16th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, April 13th. PNC Financial Services Group’s payout ratio is currently 35.29%.

A number of institutional investors have recently bought and sold shares of PNC. Washington Trust Bank grew its holdings in PNC Financial Services Group by 2.9% during the fourth quarter. Washington Trust Bank now owns 54,958 shares of the financial services provider’s stock worth $7,930,000 after purchasing an additional 1,538 shares during the period. DnB Asset Management AS grew its holdings in PNC Financial Services Group by 1.8% during the fourth quarter. DnB Asset Management AS now owns 51,255 shares of the financial services provider’s stock worth $7,396,000 after purchasing an additional 900 shares during the period. Chesley Taft & Associates LLC grew its holdings in PNC Financial Services Group by 1.7% during the fourth quarter. Chesley Taft & Associates LLC now owns 80,870 shares of the financial services provider’s stock worth $11,669,000 after purchasing an additional 1,325 shares during the period. First Citizens Bank & Trust Co. grew its holdings in PNC Financial Services Group by 72.1% during the fourth quarter. First Citizens Bank & Trust Co. now owns 9,963 shares of the financial services provider’s stock worth $1,438,000 after purchasing an additional 4,175 shares during the period. Finally, Union Bankshares Corp grew its holdings in PNC Financial Services Group by 34.4% during the fourth quarter. Union Bankshares Corp now owns 34,828 shares of the financial services provider’s stock worth $5,025,000 after purchasing an additional 8,921 shares during the period. Institutional investors and hedge funds own 82.26% of the company’s stock.

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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.

Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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