The PNC Financial Services Group (NYSE:PNC) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

The PNC Financial Services Group (NYSE:PNC) announced its quarterly earnings results on Tuesday. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01, RTT News reports. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the firm earned $3.98 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year.

The PNC Financial Services Group Trading Up 0.5 %

The PNC Financial Services Group stock opened at $147.25 on Thursday. The stock has a market cap of $58.58 billion, a P/E ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm’s fifty day moving average price is $151.80 and its 200-day moving average price is $141.68. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PNC shares. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Evercore ISI dropped their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Bank of America raised their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $156.63.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blair William & Co. IL grew its position in The PNC Financial Services Group by 0.5% in the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after acquiring an additional 89 shares in the last quarter. Cetera Investment Advisers grew its position in The PNC Financial Services Group by 12.0% in the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock worth $2,977,000 after acquiring an additional 1,724 shares in the last quarter. Covestor Ltd grew its position in The PNC Financial Services Group by 68.8% in the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 137 shares in the last quarter. West Family Investments Inc. grew its position in The PNC Financial Services Group by 9.1% in the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 97 shares in the last quarter. Finally, Ergoteles LLC grew its position in The PNC Financial Services Group by 137.9% in the first quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after acquiring an additional 12,201 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.