PNC Financial Services Group, Inc. (The) (NYSE:PNC) – Equities researchers at Jefferies Group upped their Q3 2017 earnings estimates for PNC Financial Services Group, Inc. (The) in a research report issued on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $2.16 for the quarter, up from their prior estimate of $2.12. Jefferies Group currently has a “Hold” rating and a $136.00 price objective on the stock. Jefferies Group also issued estimates for PNC Financial Services Group, Inc. (The)’s Q1 2018 earnings at $2.11 EPS, Q2 2018 earnings at $2.26 EPS, Q3 2018 earnings at $2.44 EPS and Q4 2018 earnings at $2.50 EPS.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. TRADEMARK VIOLATION NOTICE: “Q3 2017 EPS Estimates for PNC Financial Services Group, Inc. (The) Boosted by Analyst (PNC)” was published by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/11/q3-2017-eps-estimates-for-pnc-financial-services-group-inc-the-boosted-by-analyst-pnc.html.

PNC has been the topic of a number of other reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, October 3rd. BidaskClub cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Stephens cut PNC Financial Services Group, Inc. (The) from an “overweight” rating to an “equal weight” rating in a research note on Thursday, October 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $139.50 price objective (up from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $129.26.

PNC Financial Services Group, Inc. (PNC) opened at 136.72 on Wednesday. The firm’s 50-day moving average price is $129.77 and its 200 day moving average price is $124.86. PNC Financial Services Group, Inc. has a one year low of $87.34 and a one year high of $136.92. The firm has a market capitalization of $65.52 billion, a P/E ratio of 17.40 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in PNC Financial Services Group, Inc. (The) by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares during the period. Guardian Life Insurance Co. of America lifted its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after buying an additional 8 shares during the period. Hudock Capital Group LLC lifted its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after buying an additional 11 shares during the period. Telemus Capital LLC lifted its holdings in PNC Financial Services Group, Inc. (The) by 0.3% in the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after buying an additional 16 shares during the period. Finally, Green Square Capital LLC lifted its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after buying an additional 18 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.

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

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