The PNC Financial Services Group, Inc (NYSE:PNC) Announces Quarterly Dividend of $2.00

The PNC Financial Services Group, Inc (NYSE:PNC) announced a quarterly dividend on Monday, July 6th. Investors of record on Monday, July 20th will be given a dividend of 2.00 per share by the financial services provider on Wednesday, August 5th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, July 20th. This is a 17.6% increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70.

The PNC Financial Services Group has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. The PNC Financial Services Group has a payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect The PNC Financial Services Group to earn $21.00 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 32.4%.

The PNC Financial Services Group Trading Up 0.7%

NYSE:PNC traded up $1.82 during midday trading on Tuesday, reaching $255.00. 182,983 shares of the stock traded hands, compared to its average volume of 2,426,580. The stock has a market capitalization of $102.40 billion, a P/E ratio of 14.83, a PEG ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a fifty day moving average of $226.89 and a 200 day moving average of $220.69. The PNC Financial Services Group has a 12 month low of $176.88 and a 12 month high of $256.00.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm earned $3.51 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group will post 18.82 EPS for the current year.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.