The PNC Financial Services Group (NYSE:PNC – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19, Briefing.com reports. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis.
The PNC Financial Services Group Trading Down 0.6 %
Shares of PNC traded down $1.05 during trading hours on Thursday, hitting $188.88. 2,124,381 shares of the stock traded hands, compared to its average volume of 1,865,869. The business has a fifty day moving average of $180.07 and a 200-day moving average of $166.78. The firm has a market capitalization of $75.16 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $196.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.
The PNC Financial Services Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.39%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.
Insider Buying and Selling
Analyst Upgrades and Downgrades
PNC has been the topic of several recent analyst reports. UBS Group lifted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.71.
View Our Latest Research Report on The PNC Financial Services Group
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.
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