Brokerages forecast that The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) will report $5.13 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for The PNC Financial Services Group’s earnings, with the highest sales estimate coming in at $5.31 billion and the lowest estimate coming in at $4.99 billion. The PNC Financial Services Group posted sales of $4.67 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The business is expected to issue its next earnings results before the market opens on Monday, January 1st.
On average, analysts expect that The PNC Financial Services Group will report full year sales of $20.72 billion for the current fiscal year, with estimates ranging from $20.13 billion to $20.90 billion. For the next year, analysts forecast that the business will report sales of $22.62 billion, with estimates ranging from $22.09 billion to $23.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover The PNC Financial Services Group.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.78 by $0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company earned $4.10 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year.
In other The PNC Financial Services Group news, Director Robert A. Niblock purchased 2,000 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was bought at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the purchase, the director now owns 6,063 shares in the company, valued at approximately $1,012,945.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Lyons sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $182.59, for a total value of $1,004,245.00. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $809,193,000. MFA Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 16,588.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 3,655,046 shares of the financial services provider’s stock worth $4,099,000 after purchasing an additional 3,633,145 shares during the last quarter. Wellington Management Group LLP lifted its stake in The PNC Financial Services Group by 15.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,743,639 shares of the financial services provider’s stock valued at $3,275,724,000 after buying an additional 2,221,691 shares in the last quarter. Capital Research Global Investors boosted its holdings in The PNC Financial Services Group by 10.7% in the 4th quarter. Capital Research Global Investors now owns 16,957,554 shares of the financial services provider’s stock worth $3,400,329,000 after buying an additional 1,639,724 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 462.8% in the third quarter. Voya Investment Management LLC now owns 846,755 shares of the financial services provider’s stock valued at $165,659,000 after purchasing an additional 696,308 shares during the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.
PNC stock traded down $1.86 during trading on Monday, reaching $157.44. The company’s stock had a trading volume of 2,162,056 shares, compared to its average volume of 2,437,288. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average is $179.60 and its 200-day moving average is $196.23. The company has a market capitalization of $65.11 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The PNC Financial Services Group has a 1 year low of $156.20 and a 1 year high of $228.14.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Wednesday, April 13th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, April 12th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The PNC Financial Services Group’s payout ratio is 50.76%.
The PNC Financial Services Group Company Profile (Get Rating)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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