PNC Financial Services Group Inc. (PNC) Declares Quarterly Dividend of $0.44
PNC Financial Services Group (NYSE:PNC) declared a quarterly dividend on Thursday, January 2nd, American Banking News.com reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.44 per share on Wednesday, February 5th. This represents a $1.76 dividend on an annualized basis and a yield of 2.27%.
Several analysts have recently commented on the stock. Analysts at Evercore Partners downgraded shares of PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, December 16th. They now have a $81.00 price target on the stock, up previously from $79.00. On a related note, analysts at Guggenheim raised their price target on shares of PNC Financial Services Group from $90.00 to $95.00 in a research note to investors on Tuesday, December 3rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of PNC Financial Services Group in a research note to investors on Friday, November 22nd. They now have a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $79.08.
PNC Financial Services Group (NYSE:PNC) traded down 1.12% during mid-day trading on Thursday, hitting $76.71. 720,292 shares of the company’s stock traded hands. PNC Financial Services Group has a 52 week low of $58.96 and a 52 week high of $78.36. The stock’s 50-day moving average is $76.09 and its 200-day moving average is $74.60. The company has a market cap of $40.818 billion and a P/E ratio of 11.42.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts expect that PNC Financial Services Group will post $7.21 EPS for the current fiscal year.
In other PNC Financial Services Group news, Director James Rohr sold 170,137 shares of the company’s stock on the open market in a transaction dated Thursday, December 19th. The stock was sold at an average price of $75.67, for a total value of $12,874,266.79. Following the completion of the transaction, the director now directly owns 233,040 shares of the company’s stock, valued at approximately $17,634,137. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
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