Zacks: Brokerages Anticipate PNC Financial Services Group, Inc. (The) (PNC) to Announce $2.23 Earnings Per Share

Brokerages forecast that PNC Financial Services Group, Inc. (The) (NYSE:PNC) will report earnings per share of $2.23 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for PNC Financial Services Group’s earnings, with estimates ranging from $2.19 to $2.28. PNC Financial Services Group posted earnings of $1.97 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The business is scheduled to announce its next earnings results on Friday, January 12th.

On average, analysts expect that PNC Financial Services Group will report full year earnings of $8.44 per share for the current fiscal year, with EPS estimates ranging from $8.31 to $8.54. For the next fiscal year, analysts forecast that the business will post earnings of $9.32 per share, with EPS estimates ranging from $9.08 to $9.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS.

PNC has been the topic of a number of research analyst reports. Wells Fargo & Company set a $135.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a report on Thursday, October 19th. Sanford C. Bernstein restated a “market perform” rating and set a $134.00 price target on shares of PNC Financial Services Group in a report on Tuesday, October 3rd. Citigroup restated a “neutral” rating and set a $144.00 price target (up from $125.00) on shares of PNC Financial Services Group in a report on Monday, October 9th. Stephens cut PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $139.50 price target (up from $138.50) on shares of PNC Financial Services Group in a report on Friday, October 6th. Sixteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $135.93.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,640 shares of company stock valued at $1,729,952. Insiders own 0.43% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in PNC Financial Services Group by 0.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 4 shares during the period. Hudock Capital Group LLC boosted its stake in PNC Financial Services Group by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 11 shares during the period. Telemus Capital LLC boosted its stake in PNC Financial Services Group by 0.3% in the 2nd quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 16 shares during the period. Green Square Capital LLC boosted its stake in PNC Financial Services Group by 0.4% in the 1st quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 18 shares during the period. Finally, Abner Herrman & Brock LLC boosted its stake in PNC Financial Services Group by 0.7% in the 2nd quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 20 shares during the period. 81.57% of the stock is owned by institutional investors.

PNC Financial Services Group (NYSE PNC) traded up $3.12 during trading on Tuesday, hitting $135.68. The company’s stock had a trading volume of 1,922,548 shares, compared to its average volume of 2,196,294. The company has a market cap of $63,072.19, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. PNC Financial Services Group has a 52-week low of $109.16 and a 52-week high of $139.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92.

The firm also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 36.63%.

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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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