Financial services

Zacks: Brokerages expect PNC Financial Services Group, Inc. (NYSE: PNC) to report EPS of $3.36


Wall Street analysts expect The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) to report earnings of $3.36 per share for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts provided earnings estimates for The PNC Financial Services Group, with estimates ranging from $2.82 to $3.88. PNC Financial Services Group reported earnings per share of $4.50 in the same quarter last year, suggesting a negative 25.3% year-over-year growth rate. The company is due to announce its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect PNC Financial Services Group to report annual earnings of $13.77 per share for the current fiscal year, with EPS estimates ranging from $12.39 to $14.67 . For the next fiscal year, analysts expect the company to post earnings of $16.47 per share, with EPS estimates ranging from $14.98 to $18.59. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts who follow the PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC – Get Rating) last released quarterly earnings data on Thursday, April 14. The financial services provider reported earnings per share of $3.23 for the quarter, beating Thomson Reuters consensus estimate of $2.78 by $0.45. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. The PNC Financial Services group achieved a net margin of 26.14% and a return on equity of 12.43%. The company’s revenue increased 11.2% year over year. In the same quarter last year, the company posted earnings per share of $4.10.

A number of analysts have weighed in on the stock recently. Argus raised its price target on shares of PNC Financial Services Group from $220.00 to $245.00 in a report on Wednesday, January 19. StockNews.com assumed coverage of PNC Financial Services Group stocks in a Thursday, March 31 report. They issued a “holding” rating for the company. Piper Sandler lowered her price target on PNC Financial Services Group shares from $215.00 to $201.00 and set a “neutral” rating for the company in a Friday, April 1 report. Credit Suisse Group raised its price target on shares of PNC Financial Services Group from $203.00 to $207.00 and gave the company a “neutral” rating in a Wednesday, January 19 report. Finally, Robert W. Baird raised his price target on shares of The PNC Financial Services Group from $200.00 to $230.00 in a Wednesday, January 19 research note. One investment analyst gave the stock a sell rating, twelve gave the company a hold rating and eleven gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $219.32.

In other news, Executive Vice President Michael P. Lyons sold 5,500 shares of PNC Financial Services Group in a trade on Monday, March 14. The shares were sold at an average price of $182.59, for a total transaction of $1,004,245.00. The sale was disclosed in a legal filing with the SEC, which is available via this link. Insiders of the company own 0.34% of the shares of the company.

A number of institutional investors and hedge funds have been buying and selling stocks recently. Quantinno Capital Management LP increased its position in The PNC Financial Services Group by 3.0% in the third quarter. Quantinno Capital Management LP now owns 1,686 shares of the financial services provider valued at $330,000 after acquiring 49 additional shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in The PNC Financial Services Group by 0.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,197 shares of the financial services provider valued at $2,386,000 after acquiring 51 additional shares during the period. Gradient Investments LLC increased its position in The PNC Financial Services Group by 12.0% in Q4. Gradient Investments LLC now owns 476 shares of the financial services provider valued at $95,000 after acquiring 51 additional shares during the period. Impax Asset Management Group plc increased its position in The PNC Financial Services Group by 0.3% in the third quarter. Impax Asset Management Group plc now owns 15,612 shares of the financial services provider valued at $3,054,000 after acquiring an additional 52 shares during the period. Finally, Manchester Capital Management LLC increased its position in The PNC Financial Services Group by 1.5% in the 4th quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider valued at $732,000 after acquiring 53 additional shares during the period. 82.59% of the shares are currently held by institutional investors and hedge funds.

Shares of PNC Financial Services Group traded at $3.44 at midday Friday, hitting $175.00. The company had a trading volume of 3,474,968 shares, compared to an average volume of 2,325,989 shares. The company has a current ratio of 0.75, a quick ratio of 0.78 and a debt ratio of 0.54. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 14.81, a growth price-to-earnings ratio of 2.21, and a beta of 1.26. The stock has a fifty-day simple moving average of $191.95 and a 200-day simple moving average of $201.09. PNC Financial Services Group has a 1-year low of $170.14 and a 1-year high of $228.14.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 5. Shareholders of record on Wednesday, April 13 will receive a dividend of $1.50 per share. This represents a dividend of $6.00 on an annualized basis and a dividend yield of 3.43%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, April 12. The dividend payout ratio (DPR) of the PNC Financial Services group is currently 50.76%.

PNC Financial Services Group Company Profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Earnings history and estimates for PNC Financial Services Group (NYSE:PNC)



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