FY2018 EPS Estimates for PNC Financial Services Group Inc (NYSE:PNC) Boosted by Jefferies Group

PNC Financial Services Group Inc (NYSE:PNC) – Equities researchers at Jefferies Group increased their FY2018 earnings estimates for PNC Financial Services Group in a research report issued on Monday, according to Zacks Investment Research. Jefferies Group analyst K. Usdin now expects that the financial services provider will earn $10.65 per share for the year, up from their previous estimate of $9.25. Jefferies Group also issued estimates for PNC Financial Services Group’s FY2019 earnings at $11.45 EPS.

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

Several other research firms have also weighed in on PNC. Morgan Stanley raised their price objective on PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday. BMO Capital Markets reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research note on Tuesday, January 16th. Argus lifted their price target on PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their price target on PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research note on Friday, January 12th. Eighteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $145.98.

Shares of PNC Financial Services Group (PNC) opened at $157.97 on Wednesday. The firm has a market capitalization of $75,160.00, a PE ratio of 15.15, a P/E/G ratio of 1.49 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93. PNC Financial Services Group has a 12 month low of $115.25 and a 12 month high of $160.07.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors 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 dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 28.76%.

In related news, insider E William Parsley III sold 25,000 shares of PNC Financial Services Group stock in a transaction that occurred on 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 link. Also, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total value of $1,235,296.20. Following the completion of the transaction, the insider now directly owns 58,820 shares in the company, valued at $9,070,044. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,399 shares of company stock worth $15,523,032. 0.43% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in PNC Financial Services Group by 0.3% in the second 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 in the last quarter. Hudock Capital Group LLC increased its holdings in PNC Financial Services Group by 0.4% in the second 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 in the last quarter. Green Square Capital LLC increased its holdings in PNC Financial Services Group by 0.4% in the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 18 shares in the last quarter. First Interstate Bank increased its holdings in PNC Financial Services Group by 2.6% in the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 25 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in PNC Financial Services Group by 2.0% in the second quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.11% 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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Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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