PNC Financial Services Group Inc (NYSE:PNC) – Jefferies Financial Group cut their FY2018 EPS estimates for shares of PNC Financial Services Group in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $10.70 per share for the year, down from their previous estimate of $10.73. Jefferies Financial Group also issued estimates for PNC Financial Services Group’s Q4 2018 earnings at $2.73 EPS, Q1 2019 earnings at $2.60 EPS, Q2 2019 earnings at $2.73 EPS, Q3 2019 earnings at $2.84 EPS, Q4 2019 earnings at $2.88 EPS, FY2019 earnings at $11.05 EPS and FY2020 earnings at $11.45 EPS.
PNC has been the topic of several other reports. Deutsche Bank upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, October 15th. Sanford C. Bernstein upgraded PNC Financial Services Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $158.00 to $145.00 in a research note on Monday, October 15th. ValuEngine cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Nomura reduced their price objective on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. Finally, BMO Capital Markets reduced their price objective on PNC Financial Services Group to $139.00 and set an “outperform” rating on the stock in a research note on Monday, October 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $151.00.
PNC Financial Services Group stock opened at $119.58 on Thursday. The company has a market cap of $55.94 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.12 and a beta of 1.03. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $163.59.
PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same period in the prior year, the business posted $2.16 EPS.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 5th. Shareholders of record on Thursday, January 17th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, January 16th. PNC Financial Services Group’s payout ratio is 44.71%.
PNC Financial Services Group announced that its board has initiated a share repurchase plan on Thursday, November 8th that authorizes the company to repurchase $900.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of hedge funds have recently bought and sold shares of PNC. IMS Capital Management bought a new stake in PNC Financial Services Group in the third quarter valued at $28,000. Stelac Advisory Services LLC bought a new stake in PNC Financial Services Group in the third quarter valued at $118,000. Rational Advisors LLC lifted its stake in PNC Financial Services Group by 248.4% in the third quarter. Rational Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $122,000 after buying an additional 641 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in PNC Financial Services Group in the third quarter valued at $127,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in PNC Financial Services Group in the second quarter valued at $143,000. Institutional investors own 79.39% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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