Brokers Offer Predictions for PNC Financial Services Group Inc’s Q1 2018 Earnings (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Investment analysts at Jefferies Group decreased their Q1 2018 earnings estimates for PNC Financial Services Group in a report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $2.39 per share for the quarter, down from their previous estimate of $2.43. Jefferies Group also issued estimates for PNC Financial Services Group’s Q3 2018 earnings at $2.76 EPS and Q4 2018 earnings at $2.81 EPS.

Several other equities research analysts have also recently weighed in on PNC. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday. Argus increased their price target on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research report on Friday, January 12th. Wells Fargo & Co set a $157.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Tuesday. Finally, ValuEngine cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $144.02.

Shares of PNC Financial Services Group (NYSE:PNC) opened at $154.23 on Thursday. PNC Financial Services Group has a 12 month low of $113.66 and a 12 month high of $154.93. The stock has a market cap of $73,380.00, a price-to-earnings ratio of 14.79, a PEG ratio of 1.48 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The firm’s revenue was up 10.0% on a year-over-year basis.

The business 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 $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.95%. PNC Financial Services Group’s dividend payout ratio is 12.46%.

In other news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction 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 sold 103,523 shares of company stock valued at $14,717,168. Corporate insiders own 0.43% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Cullinan Associates Inc. lifted its position in shares of PNC Financial Services Group by 11.3% in the 4th quarter. Cullinan Associates Inc. now owns 31,580 shares of the financial services provider’s stock worth $4,557,000 after purchasing an additional 3,200 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of PNC Financial Services Group by 11.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,878,104 shares of the financial services provider’s stock worth $270,992,000 after purchasing an additional 193,195 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of PNC Financial Services Group in the 4th quarter worth about $276,000. National Pension Service increased its stake in shares of PNC Financial Services Group by 1.2% in the 4th quarter. National Pension Service now owns 416,786 shares of the financial services provider’s stock worth $60,138,000 after acquiring an additional 4,881 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of PNC Financial Services Group by 8.1% in the 4th quarter. Bank of Montreal Can now owns 1,681,159 shares of the financial services provider’s stock worth $242,575,000 after acquiring an additional 126,061 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

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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.

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

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