PNC Financial Services Group Inc (NYSE:PNC) announced a quarterly dividend on Thursday, January 4th, NASDAQ reports. Shareholders of record on Wednesday, January 17th will be paid a dividend of 0.75 per share by the financial services provider on Monday, February 5th. This represents a $3.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, January 16th.

PNC Financial Services Group has increased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. PNC Financial Services Group has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PNC Financial Services Group to earn $9.49 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 31.6%.

Shares of PNC Financial Services Group (NYSE PNC) opened at $144.60 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a 52 week low of $113.66 and a 52 week high of $147.28. The stock has a market capitalization of $68,796.08, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company earned $1.84 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts predict that PNC Financial Services Group will post 8.44 earnings per share for the current year.

In related news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $136.98, for a total transaction of $429,432.30. Following the sale, the insider now directly owns 20,449 shares in the company, valued at approximately $2,801,104.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $145.51, for a total value of $2,848,503.76. Following the sale, the insider now owns 103,299 shares in the company, valued at $15,031,037.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,523 shares of company stock worth $15,392,168. Company insiders own 0.43% of the company’s stock.

A number of brokerages have issued reports on PNC. Credit Suisse Group reissued a “hold” rating and issued a $150.00 price target on shares of PNC Financial Services Group in a research note on Friday. Goldman Sachs Group lowered PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday. Barclays raised their price target on PNC Financial Services Group from $139.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Tuesday. 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 29th. Finally, 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. Sixteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and an average price target of $141.08.

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About PNC Financial Services Group

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.

Dividend History for PNC Financial Services Group (NYSE:PNC)

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