PNC Financial Services Group (NYSE:PNC) announced its quarterly earnings data on Friday. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.09, Bloomberg Earnings reports. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share.
Shares of PNC Financial Services Group (PNC) opened at $151.84 on Friday. PNC Financial Services Group has a 52 week low of $113.66 and a 52 week high of $153.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $72,245.63, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is presently 17.79%.
PNC has been the topic of several analyst reports. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research note on Tuesday, December 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $151.00 price objective on shares of PNC Financial Services Group in a research note on Monday, December 4th. Nomura increased their price objective on PNC Financial Services Group from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Wells Fargo & Co set a $135.00 price objective on PNC Financial Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $162.00 price objective on shares of PNC Financial Services Group in a research note on Friday, December 22nd. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $142.33.
In other PNC Financial Services Group news, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $138.85, for a total transaction of $625,519.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. 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. 0.43% of the stock is owned by insiders.
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PNC Financial Services Group 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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