Media headlines about PNC Financial Services Group, Inc. (The) (NYSE:PNC) have trended positive recently, according to Accern Sentiment. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. PNC Financial Services Group, Inc. (The) earned a media sentiment score of 0.44 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 46.2762910710899 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of PNC Financial Services Group, Inc. (PNC) traded down 0.48% during mid-day trading on Wednesday, reaching $131.73. 2,246,823 shares of the company’s stock traded hands. PNC Financial Services Group, Inc. has a 12-month low of $82.17 and a 12-month high of $132.19. The company has a market cap of $63.23 billion, a P/E ratio of 16.76 and a beta of 0.93. The firm has a 50-day moving average of $125.42 and a 200 day moving average of $122.60.
PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. Equities analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, July 13th. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.
PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.70 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently commented on PNC. Wells Fargo & Company began coverage on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $130.00 price objective (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Finally, Instinet reissued a “neutral” rating and issued a $126.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $122.75.
In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
About PNC Financial Services Group, Inc. (The)
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.
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