The PNC Financial Services Group (NYSE:PNC) Posts Earnings Results, Beats Estimates By $0.01 EPS

The PNC Financial Services Group (NYSE:PNC) posted its quarterly earnings data on Tuesday. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01, RTT News reports. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $3.98 EPS. The company’s revenue was down 8.2% on a year-over-year basis.

The PNC Financial Services Group Stock Up 0.5 %

Shares of PNC opened at $147.25 on Thursday. The company has a market capitalization of $58.58 billion, a PE ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24. The stock’s 50-day moving average price is $151.80 and its two-hundred day moving average price is $141.68. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.21%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Jefferies Financial Group reduced their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $156.63.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PNC. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $735,469,000. Moneta Group Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after acquiring an additional 2,538,916 shares in the last quarter. Morgan Stanley raised its position in shares of The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after acquiring an additional 1,045,055 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after acquiring an additional 860,489 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of The PNC Financial Services Group by 58.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,329,672 shares of the financial services provider’s stock worth $293,422,000 after acquiring an additional 857,233 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.