PNC Financial Services Group Inc (NYSE:PNC) – Research analysts at Jefferies Group cut their FY2018 earnings per share estimates for PNC Financial Services Group in a research report issued to clients and investors on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $10.55 for the year, down from their previous forecast of $10.65.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the company. Argus lifted their price objective on PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer reaffirmed a “hold” rating on shares of PNC Financial Services Group in a report on Tuesday. Wells Fargo & Co set a $157.00 price objective on PNC Financial Services Group and gave the company a “hold” rating in a report on Tuesday. Royal Bank of Canada lifted their price objective on PNC Financial Services Group to $170.00 and gave the company an “average” rating in a report on Friday, January 12th. Finally, ValuEngine lowered PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Eighteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $144.02.

Shares of PNC Financial Services Group (NYSE:PNC) traded up $0.42 on Wednesday, reaching $152.26. The company’s stock had a trading volume of 2,688,200 shares, compared to its average volume of 2,594,400. PNC Financial Services Group has a 12 month low of $113.66 and a 12 month high of $154.90. The stock has a market cap of $72,850.00, a price-to-earnings ratio of 14.60, a PEG ratio of 1.50 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93.

Institutional investors have recently modified their holdings of the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of PNC Financial Services Group by 217.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock worth $24,901,000 after purchasing an additional 126,480 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in PNC Financial Services Group by 20.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock valued at $906,000 after acquiring an additional 1,235 shares during the last quarter. California Public Employees Retirement System raised its holdings in PNC Financial Services Group by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock valued at $189,688,000 after acquiring an additional 22,434 shares during the last quarter. Davis Selected Advisers raised its holdings in PNC Financial Services Group by 1.7% in the 2nd quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock valued at $38,380,000 after acquiring an additional 5,262 shares during the last quarter. Finally, AXA raised its holdings in PNC Financial Services Group by 2.1% in the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock valued at $45,423,000 after acquiring an additional 6,903 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

In related news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider E William Parsley III sold 25,000 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total value of $3,467,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,523 shares of company stock worth $15,392,168 in the last three months. Corporate insiders own 0.43% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is 17.74%.

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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.

Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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