Brokerages expect PNC Financial Services Group, Inc. (The) (NYSE:PNC) to post $4.10 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for PNC Financial Services Group, Inc. (The)’s earnings, with the highest sales estimate coming in at $4.15 billion and the lowest estimate coming in at $4.06 billion. PNC Financial Services Group, Inc. (The) posted sales of $3.83 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The company is scheduled to announce its next earnings report before the market opens on Friday, October 13th.

According to Zacks, analysts expect that PNC Financial Services Group, Inc. (The) will report full year sales of $4.10 billion for the current financial year, with estimates ranging from $16.08 billion to $16.39 billion. For the next financial year, analysts expect that the business will report sales of $17.06 billion per share, with estimates ranging from $16.75 billion to $17.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow PNC Financial Services Group, Inc. (The).

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share.

A number of research analysts recently weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and set a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, August 28th. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. BidaskClub cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Credit Suisse Group restated a “neutral” rating and set a $126.00 price objective (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and an average price target of $127.17.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 134.18 on Wednesday. PNC Financial Services Group, Inc. has a 52-week low of $87.34 and a 52-week high of $135.73. The firm has a market capitalization of $64.30 billion, a PE ratio of 17.08 and a beta of 0.95. The stock’s 50 day moving average price is $128.74 and its 200 day moving average price is $124.29.

The business also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.24%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Honeywell International Inc. lifted its stake in PNC Financial Services Group, Inc. (The) by 0.3% in the second quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after purchasing an additional 400 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in PNC Financial Services Group, Inc. (The) by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 500 shares during the period. Canada Pension Plan Investment Board grew its holdings in PNC Financial Services Group, Inc. (The) by 12.9% during the second quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after purchasing an additional 70,962 shares during the period. Davis Selected Advisers grew its holdings in PNC Financial Services Group, Inc. (The) by 1.7% during the second quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock valued at $38,380,000 after purchasing an additional 5,262 shares during the period. Finally, Legal & General Group Plc grew its holdings in PNC Financial Services Group, Inc. (The) by 3.0% during the second quarter. Legal & General Group Plc now owns 2,491,441 shares of the financial services provider’s stock valued at $311,109,000 after purchasing an additional 72,775 shares during the period. Institutional investors own 80.80% of the company’s stock.

PNC Financial Services Group, Inc. (The) 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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Earnings History and Estimates for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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