The PNC Financial Services Group (NYSE:PNC) Announces Quarterly Earnings Results

The PNC Financial Services Group (NYSE:PNC) announced its quarterly earnings data on Tuesday. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01, RTT News reports. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $147.25 on Thursday. The firm’s 50 day moving average is $151.80 and its two-hundred day moving average is $141.68. The PNC Financial Services Group has a 52 week low of $109.40 and a 52 week high of $162.24. The firm has a market capitalization of $58.58 billion, a P/E ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. UBS Group lifted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $156.46.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PNC. Hobbs Group Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Tyler Stone Wealth Management bought a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new stake in The PNC Financial Services Group in the second quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new stake in The PNC Financial Services Group in the first quarter valued at approximately $33,000. Finally, 1832 Asset Management L.P. boosted its holdings in shares of The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after buying an additional 67 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.