PNC Financial Services Group Inc. (PNC) to Release Quarterly Earnings on Friday
PNC Financial Services Group Inc. (NYSE:PNC) is set to post its Q316 quarterly earnings results on Friday, October 14th. Analysts expect PNC Financial Services Group to post earnings of $1.78 per share and revenue of $3.83 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.
PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. The firm had revenue of $3.79 billion for the quarter. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. On average, analysts expect PNC Financial Services Group to post $7.10 EPS for the current fiscal year and $7.41 EPS for the next fiscal year.
Shares of PNC Financial Services Group Inc. (NYSE:PNC) opened at 90.38 on Thursday. The firm’s 50 day moving average is $89.68 and its 200-day moving average is $86.15. The company has a market cap of $44.41 billion, a PE ratio of 12.47 and a beta of 0.91. PNC Financial Services Group Inc. has a 1-year low of $77.40 and a 1-year high of $97.50.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Monday, October 17th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 13th. PNC Financial Services Group’s payout ratio is 30.26%.
A number of equities research analysts recently issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research note on Wednesday, June 29th. Jefferies Group reaffirmed a “hold” rating and set a $91.00 price target on shares of PNC Financial Services Group in a research note on Thursday, July 7th. Nomura downgraded shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. BMO Capital Markets raised shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $94.00 to $101.00 in a research note on Monday, September 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $96.65.
In other PNC Financial Services Group news, Director Daniel Hesse purchased 500 shares of PNC Financial Services Group stock in a transaction on Thursday, July 21st. The stock was bought at an average cost of $82.44 per share, with a total value of $41,220.00. Following the transaction, the director now owns 1,100 shares of the company’s stock, valued at approximately $90,684. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Hannon sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the transaction, the insider now directly owns 87,573 shares of the company’s stock, valued at $7,574,188.77. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. MCF Advisors LLC raised its position in PNC Financial Services Group by 1.6% in the second quarter. MCF Advisors LLC now owns 2,238 shares of the company’s stock valued at $182,000 after buying an additional 35 shares during the period. Euclid Advisors LLC purchased a new position in PNC Financial Services Group during the second quarter valued at $290,000. AHL Partners LLP purchased a new position in PNC Financial Services Group during the second quarter valued at $299,000. Meiji Yasuda Life Insurance Co purchased a new position in PNC Financial Services Group during the second quarter valued at $300,000. Finally, Ingalls & Snyder LLC purchased a new position in PNC Financial Services Group during the second quarter valued at $304,000. 80.22% of the stock is owned by institutional investors.
About PNC Financial Services Group
The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.
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