The PNC Financial Services Group (NYSE:PNC) Posts Earnings Results

The PNC Financial Services Group (NYSE:PNC) released its quarterly earnings results on Tuesday. The financial services provider reported $3.10 EPS for the quarter, beating 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 in the previous year, the company posted $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis.

The PNC Financial Services Group Stock Down 0.0 %

PNC stock opened at $147.22 on Thursday. The stock’s 50 day simple moving average is $151.80 and its 200 day simple moving average is $141.68. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $58.57 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following 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 document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sender Co & Partners Inc. bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $213,000. Harbour Investments Inc. increased its holdings in The PNC Financial Services Group by 40.3% during the 4th quarter. Harbour Investments Inc. now owns 901 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 259 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 38.6% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 901 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 251 shares in the last quarter. Hollencrest Capital Management increased its holdings in The PNC Financial Services Group by 66.1% during the 1st quarter. Hollencrest Capital Management now owns 789 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 314 shares in the last quarter. Finally, Covestor Ltd increased its holdings in The PNC Financial Services Group by 68.8% during the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Bank of America upped their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Jefferies Financial Group reduced their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, UBS Group boosted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.63.

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.