PNC Financial Services Group (PNC) Announces Earnings Results

PNC Financial Services Group (NYSE:PNC) announced its earnings results on Thursday. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09, Bloomberg Earnings reports. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. PNC Financial Services Group’s quarterly revenue was up 10.0% on a year-over-year basis.

Shares of PNC Financial Services Group (PNC) opened at $151.49 on Friday. PNC Financial Services Group has a 52-week low of $113.66 and a 52-week high of $151.49. The stock has a market capitalization of $72,080.00, a PE ratio of 18.45, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis 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 related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the sale, the insider now directly owns 103,299 shares of the company’s stock, valued at $15,031,037.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,523 shares of company stock worth $15,392,168. Corporate insiders own 0.43% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Nomura raised their price objective on PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Robert W. Baird restated a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group in a report on Sunday, October 1st. Piper Jaffray Companies raised their price objective on PNC Financial Services Group from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. ValuEngine cut PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada restated a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Seventeen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $141.08.

COPYRIGHT VIOLATION WARNING: “PNC Financial Services Group (PNC) Announces Earnings Results” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://www.com-unik.info/2018/01/12/pnc-financial-services-group-pnc-announces-earnings-results.html.

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.

Earnings History for PNC Financial Services Group (NYSE:PNC)

What are top analysts saying about PNC Financial Services Group? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PNC Financial Services Group and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit