Wall Street brokerages expect that PNC Financial Services Group Inc (NYSE:PNC) will report $4.41 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for PNC Financial Services Group’s earnings. The lowest sales estimate is $4.38 billion and the highest is $4.45 billion. PNC Financial Services Group posted sales of $4.36 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.1%. The business is expected to announce its next earnings report on Friday, October 11th.
On average, analysts expect that PNC Financial Services Group will report full year sales of $17.58 billion for the current year, with estimates ranging from $17.49 billion to $17.67 billion. For the next financial year, analysts expect that the business will report sales of $17.88 billion, with estimates ranging from $17.66 billion to $18.16 billion. Zacks Investment Research’s sales calculations 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 announced its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.05. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.72 earnings per share.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Morgan Stanley set a $141.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $143.22.
PNC stock traded up $2.11 on Tuesday, hitting $139.28. 166,678 shares of the company were exchanged, compared to its average volume of 1,764,638. PNC Financial Services Group has a twelve month low of $108.45 and a twelve month high of $145.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The business’s fifty day moving average is $131.98 and its two-hundred day moving average is $131.93. The stock has a market capitalization of $61.40 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11.
In related news, CEO William S. Demchak sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total value of $10,547,250.00. Following the completion of the transaction, the chief executive officer now directly owns 657,179 shares in the company, valued at approximately $92,419,082.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 17,132 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $135.11, for a total value of $2,314,704.52. Following the completion of the transaction, the chief executive officer now owns 507,979 shares of the company’s stock, valued at $68,633,042.69. The disclosure for this sale can be found here. Insiders sold 158,374 shares of company stock valued at $22,168,172 over the last ninety days. 0.37% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Institute for Wealth Management LLC. raised its stake in PNC Financial Services Group by 3.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,902 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 101 shares during the period. GYL Financial Synergies LLC acquired a new stake in PNC Financial Services Group in the first quarter valued at about $940,000. Moors & Cabot Inc. boosted its stake in PNC Financial Services Group by 2.9% in the second quarter. Moors & Cabot Inc. now owns 11,036 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 311 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in PNC Financial Services Group by 31.8% in the second quarter. Joel Isaacson & Co. LLC now owns 4,166 shares of the financial services provider’s stock valued at $572,000 after buying an additional 1,006 shares in the last quarter. Finally, Park National Corp OH raised its position in PNC Financial Services Group by 9.6% in the second quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock valued at $10,277,000 after purchasing an additional 6,529 shares during the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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