FY2017 EPS Estimates for PNC Financial Services Group Inc Increased by Jefferies Group (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for PNC Financial Services Group in a report released on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will earn $8.43 per share for the year, up from their prior forecast of $8.42.

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

PNC has been the subject of several other research reports. Nomura raised their target price on PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. ValuEngine cut PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $139.50 target price (up previously from $138.50) on shares of PNC Financial Services Group in a research report on Friday, October 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $134.00 price objective on shares of PNC Financial Services Group in a research report on Tuesday, October 3rd. Finally, Citigroup reissued a “neutral” rating and set a $144.00 price objective (up previously from $125.00) on shares of PNC Financial Services Group in a research report on Monday, October 9th. Seventeen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $141.08.

Shares of PNC Financial Services Group (NYSE PNC) opened at $151.49 on Friday. The company has a market capitalization of $72,080.00, a price-to-earnings ratio of 18.45, a PEG ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a 12-month low of $113.66 and a 12-month high of $151.49.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. PNC Financial Services Group’s dividend payout ratio is currently 22.53%.

In other news, insider E William Parsley III sold 25,000 shares of PNC Financial Services Group stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total value of $3,467,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the transaction, the insider now owns 103,299 shares in the company, valued at $15,031,037.49. The disclosure for this sale can be found here. Insiders sold 108,523 shares of company stock valued at $15,392,168 in the last ninety days. Insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in PNC Financial Services Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock valued at $4,065,151,000 after acquiring an additional 589,235 shares during the period. BlackRock Inc. increased its stake in PNC Financial Services Group by 1.3% during the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock valued at $3,430,820,000 after acquiring an additional 341,222 shares during the period. FMR LLC increased its stake in PNC Financial Services Group by 13.9% during the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after acquiring an additional 1,915,923 shares during the period. JPMorgan Chase & Co. increased its stake in PNC Financial Services Group by 7.4% during the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after acquiring an additional 875,164 shares during the period. Finally, Capital World Investors increased its stake in PNC Financial Services Group by 6.9% during the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock valued at $1,262,761,000 after acquiring an additional 654,997 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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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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