PNC Financial Services Group Inc (NYSE:PNC) – Investment analysts at Piper Jaffray raised their Q4 2019 EPS estimates for PNC Financial Services Group in a report released on Sunday, April 15th. Piper Jaffray analyst K. Barker now expects that the financial services provider will earn $3.07 per share for the quarter, up from their prior estimate of $3.00.
PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, April 13th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.01. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.14 billion. PNC Financial Services Group had a net margin of 29.85% and a return on equity of 9.83%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 EPS.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo set a $157.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $162.00 price objective on shares of PNC Financial Services Group in a research report on Friday, December 29th. Morgan Stanley boosted their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. Finally, ValuEngine cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Nineteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $149.26.
Shares of NYSE:PNC opened at $144.26 on Wednesday. The firm has a market capitalization of $66,428.23, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.33 and a beta of 0.91. PNC Financial Services Group has a 52 week low of $115.66 and a 52 week high of $163.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 0.94.
The business also recently declared a quarterly dividend, which will be paid on Saturday, May 5th. Investors of record on Monday, April 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, April 13th. PNC Financial Services Group’s dividend payout ratio is currently 35.29%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Truewealth LLC purchased a new position in shares of PNC Financial Services Group during the fourth quarter valued at about $107,000. Crewe Advisors LLC purchased a new position in shares of PNC Financial Services Group during the fourth quarter valued at about $134,000. Resources Investment Advisors Inc. increased its position in shares of PNC Financial Services Group by 130.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock valued at $153,000 after buying an additional 600 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of PNC Financial Services Group during the fourth quarter valued at about $157,000. Finally, Avestar Capital LLC bought a new stake in PNC Financial Services Group during the fourth quarter worth about $177,000. Institutional investors own 82.26% 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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