Analysts Anticipate PNC Financial Services Group Inc (PNC) to Announce $2.23 Earnings Per Share

Equities research analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will report earnings of $2.23 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for PNC Financial Services Group’s earnings, with the lowest EPS estimate coming in at $2.19 and the highest estimate coming in at $2.28. PNC Financial Services Group reported earnings of $1.97 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The business is expected to report its next quarterly earnings results before the market opens on Friday, January 12th.

On average, analysts expect that PNC Financial Services Group will report full year earnings of $8.44 per share for the current fiscal year, with EPS estimates ranging from $8.31 to $8.54. For the next year, analysts anticipate that the business will report earnings of $9.34 per share, with EPS estimates ranging from $9.08 to $9.85. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The company’s revenue was up 7.7% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $151.00 price target on shares of PNC Financial Services Group in a research report on Monday, December 4th. J P Morgan Chase & Co upped their price target on shares of PNC Financial Services Group from $139.50 to $140.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Tuesday, October 31st. Nomura upped their price target on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Finally, Wells Fargo & Company set a $135.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Thursday, October 19th. Sixteen research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $136.13.

Shares of PNC Financial Services Group (NYSE:PNC) opened at $144.95 on Friday. PNC Financial Services Group has a 52-week low of $113.66 and a 52-week high of $146.24. The firm has a market cap of $68,025.28, a P/E ratio of 17.46, a PEG ratio of 1.91 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider E William Parsley III sold 46,307 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $143.43, for a total transaction of $6,641,813.01. Following the transaction, the insider now owns 132,544 shares in the company, valued at approximately $19,010,785.92. The disclosure for this sale can be found here. Insiders have sold 88,947 shares of company stock valued at $12,543,665 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of PNC Financial Services Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after acquiring an additional 589,235 shares during the period. BlackRock Inc. increased its stake in shares of PNC Financial Services Group by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock worth $3,430,820,000 after acquiring an additional 341,222 shares during the period. FMR LLC increased its stake in shares of PNC Financial Services Group by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after acquiring an additional 1,915,923 shares during the period. JPMorgan Chase & Co. increased its stake in shares of PNC Financial Services Group by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after acquiring an additional 875,164 shares during the period. Finally, Capital World Investors increased its stake in shares of PNC Financial Services Group by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock worth $1,262,761,000 after acquiring an additional 654,997 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.

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About PNC Financial Services Group

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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