The PNC Financial Services Group (NYSE:PNC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

The PNC Financial Services Group Trading Up 0.5 %

Shares of NYSE PNC opened at $147.25 on Thursday. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market cap of $58.58 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The firm has a 50-day moving average of $151.80 and a 200 day moving average of $141.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. 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 (DPR) is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Blair William & Co. IL grew its position in The PNC Financial Services Group by 0.5% during the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after buying an additional 89 shares during the period. Cetera Investment Advisers grew its position in The PNC Financial Services Group by 12.0% during the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after buying an additional 1,724 shares during the period. Covestor Ltd lifted its holdings in The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 137 shares in the last quarter. West Family Investments Inc. lifted its holdings in The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 97 shares in the last quarter. Finally, Ergoteles LLC lifted its holdings in The PNC Financial Services Group by 137.9% during the first quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after purchasing an additional 12,201 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday. Jefferies Financial Group cut their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. Evercore ISI cut their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.63.

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.