Financial services

The PNC Financial Services Group (PNC) is expected to release its quarterly results on Friday


PNC Financial Services Group (NYSE:PNC – Get Rating) is expected to release earnings data before market open on Friday, July 15. Analysts expect PNC Financial Services Group to post earnings of $3.25 per share for the quarter. PNC Financial Services Group has set its second quarter 2022 guidance to EPS and its full year 2022 guidance to EPS. Those wishing to register for the company’s earnings conference call can do so using this link.

PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly results on Thursday, April 14. The financial services provider reported EPS of $3.29 for the quarter, beating the consensus estimate of $2.78 by $0.51. The PNC Financial Services group achieved a net margin of 26.14% and a return on equity of 12.43%. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. In the same quarter a year earlier, the company posted earnings of $4.10 per share. PNC Financial Services Group revenue for the quarter increased 11.2% compared to the same quarter last year. On average, analysts expect PNC Financial Services Group to post EPS of $14 for the current fiscal year and EPS of $16 for the next fiscal year.

Shares of PNC opened at $162.31 on Friday. The PNC Financial Services Group has a one-year low of $149.51 and a one-year high of $228.14. The company has a 50-day moving average price of $162.97 and a 200-day moving average price of $185.05. The company has a market capitalization of $67.13 billion, a price-to-earnings ratio of 13.73, a growth price-to-earnings ratio of 2.23 and a beta of 1.24. The company has a debt ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 5. Shareholders of record on Wednesday, July 13 will receive a dividend of $1.50. This represents an annualized dividend of $6.00 and a dividend yield of 3.70%. The ex-dividend date is Tuesday, July 12. The payout ratio of PNC Financial Services Group is currently 50.76%.

PNC has been the subject of a number of recent analyst reports. 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. Wells Fargo & Company cut its price target on PNC Financial Services Group shares from $227.00 to $202.00 and set an “overweight” rating on the stock in a research report on Friday, July 1 . Morgan Stanley cut its price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a Monday, March 28 research report . StockNews.com launched coverage on PNC Financial Services Group stocks in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Raymond James downgraded shares of PNC Financial Services Group from an “outperforming” rating to a “market performing” rating in a research report on Thursday. One financial analyst gave the stock a sell rating, ten issued a hold rating and six issued a buy rating to the company’s stock. According to data from MarketBeat, the PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $214.40.

Separately, director Robert A. Niblock purchased 2,000 shares of PNC Financial Services Group in a transaction dated Friday, May 6. The shares were purchased at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the purchase, the director now owns 6,063 shares of the company, valued at $1,012,945.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, EVP Guild Deborah sold 1,257 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $170.56, for a total transaction of $214,393.92. Following the completion of the sale, the executive vice president now owns 23,360 shares of the company, valued at approximately $3,984,281.60. The disclosure of this sale can be found here. Insiders own 0.34% of the shares of the company.

Several hedge funds have recently changed their positions in the company. 1832 Asset Management LP increased its position in The PNC Financial Services Group by 33.5% during the first quarter. 1832 Asset Management LP now owns 267 shares of the financial services provider worth $49,000 after acquiring 67 additional shares in the last quarter. KCM Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 7.1% in the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider valued at $220,000 after buying 79 additional shares in the last quarter. Blair William & Co. IL increased its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider valued at $3,135,000 after buying 89 additional shares in the last quarter. West Family Investments Inc. increased its holdings of The PNC Financial Services Group shares by 9.1% in Q1. West Family Investments Inc. now owns 1,164 shares of the financial services provider valued at $215,000 after buying 97 additional shares in the last quarter. Finally, Rodgers Brothers Inc. increased its stake in shares of The PNC Financial Services Group by 3.7% in the 1st quarter. Rodgers Brothers Inc. now owns 3,463 shares of the financial services provider valued at $639,000 after buying 125 additional shares in the last quarter. 83.54% of the shares are held by institutional investors.

About PNC Financial Services Group (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 for The PNC Financial Services Group (NYSE:PNC)



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