PNC Financial Services Group Inc (PNC) Expected to Post FY2018 Earnings of $10.65 Per Share

PNC Financial Services Group Inc (NYSE:PNC) – Equities researchers at Jefferies Group raised their FY2018 earnings per share estimates for shares of PNC Financial Services Group in a research report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $10.65 per share for the year, up from their prior estimate of $9.25. Jefferies Group also issued estimates for PNC Financial Services Group’s FY2019 earnings at $11.45 EPS.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 11th. The financial services provider reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company posted $1.97 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year.

A number of other research analysts also recently commented on PNC. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Tuesday, September 19th. Deutsche Bank reiterated a “hold” rating and set a $136.00 target price (up from $130.00) on shares of PNC Financial Services Group in a research report on Tuesday, September 26th. Nomura increased their target price on PNC Financial Services Group from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Instinet reiterated a “neutral” rating and set a $132.00 target price (up from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Finally, Robert W. Baird reiterated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a research report on Sunday, October 1st. Seventeen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $141.08.

PNC Financial Services Group (NYSE:PNC) traded up $1.87 during midday trading on Wednesday, hitting $151.49. The stock had a trading volume of 2,396,900 shares, compared to its average volume of 2,497,550. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a market cap of $72,080.00, a P/E ratio of 18.45, a P/E/G ratio of 1.72 and a beta of 0.90. PNC Financial Services Group has a 52-week low of $113.66 and a 52-week high of $151.49.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 22.53%.

In other news, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total value of $3,467,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the transaction, the insider now owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,523 shares of company stock valued at $15,392,168. Company insiders own 0.43% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in PNC Financial Services Group by 0.3% during the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 4 shares in the last quarter. Hudock Capital Group LLC raised its position in PNC Financial Services Group by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 11 shares in the last quarter. Green Square Capital LLC raised its position in PNC Financial Services Group by 0.4% during the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 18 shares in the last quarter. First Interstate Bank raised its position in PNC Financial Services Group by 2.6% during the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 25 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in PNC Financial Services Group by 2.0% during the second quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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