The PNC Financial Services Group (NYSE:PNC – Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01, RTT News reports. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.98 EPS.
The PNC Financial Services Group Price Performance
Shares of PNC stock opened at $147.25 on Thursday. The firm has a market cap of $58.58 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The business’s 50 day moving average price is $151.80 and its 200-day moving average price is $141.68. 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 PNC Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.
Insider Transactions at The PNC Financial Services Group
Institutional Investors Weigh In On The PNC Financial Services Group
Several hedge funds have recently made changes to their positions in PNC. Tyler Stone Wealth Management bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $29,000. Cornerstone Planning Group LLC bought a new stake in The PNC Financial Services Group in the second quarter worth $30,000. Hobbs Group Advisors LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Chilton Capital Management LLC bought a new stake in The PNC Financial Services Group in the first quarter worth $33,000. Finally, 1832 Asset Management L.P. boosted its holdings in The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on PNC shares. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. UBS Group raised their price objective 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. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.46.
View Our Latest Analysis on PNC
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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