PNC Financial Services Group Inc (NYSE:PNC) – Stock analysts at Jefferies Financial Group raised their Q1 2019 earnings per share estimates for PNC Financial Services Group in a report released on Thursday, January 17th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $2.68 for the quarter, up from their previous forecast of $2.60. Jefferies Financial Group also issued estimates for PNC Financial Services Group’s Q2 2019 earnings at $2.83 EPS, Q3 2019 earnings at $2.90 EPS, Q4 2019 earnings at $2.95 EPS, FY2019 earnings at $11.35 EPS and FY2020 earnings at $11.70 EPS.
A number of other equities analysts have also issued reports on the stock. Deutsche Bank raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, October 15th. Sanford C. Bernstein upgraded shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $158.00 to $145.00 in a research note on Monday, October 15th. ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Nomura decreased their price target on shares of 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 decreased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $147.25.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.79 by ($0.04). PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the firm posted $2.29 EPS. The company’s revenue was up 1.9% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. IMS Capital Management acquired a new stake in shares of PNC Financial Services Group in the 3rd quarter valued at $28,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of PNC Financial Services Group in the 4th quarter valued at $43,000. Stelac Advisory Services LLC acquired a new stake in shares of PNC Financial Services Group in the 3rd quarter valued at $118,000. Rational Advisors LLC boosted its stake in shares of PNC Financial Services Group by 248.4% in the 3rd quarter. Rational Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 641 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of PNC Financial Services Group in the 3rd quarter valued at $127,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.
PNC Financial Services Group announced that its Board of Directors has approved a stock buyback plan on Thursday, November 8th that permits the company to repurchase $900.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 5th. Shareholders of record on Thursday, January 17th will be paid a dividend of $0.95 per share. The ex-dividend date is Wednesday, January 16th. This represents a $3.80 dividend on an annualized basis and a yield of 3.03%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.
About PNC Financial Services Group
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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