$4.14 Billion in Sales Expected for PNC Financial Services Group Inc (PNC) This Quarter

Wall Street analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will announce $4.14 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for PNC Financial Services Group’s earnings. The highest sales estimate is $4.21 billion and the lowest is $4.05 billion. PNC Financial Services Group reported sales of $3.88 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The business is expected to announce its next quarterly earnings report on Thursday, April 12th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $4.14 billion for the current financial year, with estimates ranging from $16.85 billion to $17.50 billion. For the next financial year, analysts expect that the company will report sales of $17.97 billion per share, with estimates ranging from $17.53 billion to $18.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow PNC Financial Services Group.

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

A number of equities analysts recently commented on PNC shares. Royal Bank of Canada boosted their price objective on shares of PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday, October 10th. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group in a report on Sunday, October 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group in a report on Wednesday, October 4th. Finally, Goldman Sachs Group lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Eighteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $144.02.

PNC Financial Services Group (PNC) opened at $155.25 on Friday. The company has a market cap of $73,433.25, a P/E ratio of 18.24, a P/E/G ratio of 1.48 and a beta of 0.90. PNC Financial Services Group has a 12 month low of $115.25 and a 12 month high of $156.15. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

In other news, insider E William Parsley III sold 46,307 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $143.43, for a total transaction of $6,641,813.01. Following the sale, the insider now directly owns 132,544 shares of the company’s stock, valued at $19,010,785.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the business’s stock in a transaction on Monday, October 30th. The shares were 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 $2,801,104.02. The disclosure for this sale can be found here. Insiders have sold 111,534 shares of company stock worth $15,952,465 over the last three months. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. grew its holdings in shares of PNC Financial Services Group by 25.7% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 12,700 shares of the financial services provider’s stock valued at $1,832,000 after buying an additional 2,600 shares during the last quarter. Personal Capital Advisors Corp acquired a new position in PNC Financial Services Group during the fourth quarter valued at $284,000. State of Alaska Department of Revenue lifted its position in PNC Financial Services Group by 259.9% during the fourth quarter. State of Alaska Department of Revenue now owns 56,197 shares of the financial services provider’s stock valued at $8,107,000 after purchasing an additional 40,582 shares during the period. Oakbrook Investments LLC lifted its position in PNC Financial Services Group by 5.9% during the fourth quarter. Oakbrook Investments LLC now owns 34,300 shares of the financial services provider’s stock valued at $4,949,000 after purchasing an additional 1,900 shares during the period. Finally, Anderson Hoagland & Co. lifted its position in PNC Financial Services Group by 5.9% during the fourth quarter. Anderson Hoagland & Co. now owns 18,720 shares of the financial services provider’s stock valued at $2,701,000 after purchasing an additional 1,040 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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