Zacks: Analysts Anticipate PNC Financial Services Group Inc (PNC) Will Announce Earnings of $2.41 Per Share

Equities analysts forecast that PNC Financial Services Group Inc (NYSE:PNC) will report earnings of $2.41 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for PNC Financial Services Group’s earnings, with the lowest EPS estimate coming in at $2.28 and the highest estimate coming in at $2.48. PNC Financial Services Group posted earnings per share of $1.96 during the same quarter last year, which would suggest a positive year-over-year growth rate of 23%. The company is expected to issue its next earnings results on Thursday, April 12th.

On average, analysts expect that PNC Financial Services Group will report full year earnings of $10.44 per share for the current fiscal year, with EPS estimates ranging from $9.60 to $10.90. For the next year, analysts anticipate that the business will report earnings of $11.54 per share, with EPS estimates ranging from $10.70 to $12.46. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 analysts’ expectations of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 earnings per share.

Several analysts recently weighed in on PNC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $162.00 price target on shares of PNC Financial Services Group in a report on Friday, December 29th. Morgan Stanley lifted their price target on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a report on Tuesday, October 31st. Goldman Sachs Group cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $150.00 price target on shares of PNC Financial Services Group in a report on Friday, January 5th. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $145.98.

PNC Financial Services Group (PNC) traded down $0.50 during trading hours on Thursday, reaching $160.78. 498,745 shares of the company traded hands, compared to its average volume of 2,456,231. The company has a market capitalization of $75,268.49, a PE ratio of 15.49, a P/E/G ratio of 1.48 and a beta of 0.93. PNC Financial Services Group has a twelve month low of $115.25 and a twelve month high of $163.24. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

In other news, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction dated 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 owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,894 shares of company stock worth $14,897,513. Company insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PNC. Gilman Hill Asset Management LLC purchased a new position in shares of PNC Financial Services Group in the 3rd quarter worth about $201,000. Bartlett & Co. LLC raised its position in shares of PNC Financial Services Group by 31.1% in the 3rd quarter. Bartlett & Co. LLC now owns 17,849 shares of the financial services provider’s stock worth $2,406,000 after purchasing an additional 4,238 shares during the last quarter. Adviser Investments LLC purchased a new position in shares of PNC Financial Services Group in the 3rd quarter worth about $547,000. Nationwide Fund Advisors raised its position in shares of PNC Financial Services Group by 10.0% in the 3rd quarter. Nationwide Fund Advisors now owns 566,772 shares of the financial services provider’s stock worth $76,384,000 after purchasing an additional 51,538 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in shares of PNC Financial Services Group by 2.0% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 71,400 shares of the financial services provider’s stock worth $9,623,000 after purchasing an additional 1,390 shares during the last quarter. 80.87% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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