PNC Financial Services Group, Inc. (The) (PNC) To Go Ex-Dividend on October 16th

PNC Financial Services Group, Inc. (The) (NYSE:PNC) declared a quarterly dividend on Tuesday, October 3rd, RTT News reports. Stockholders of record on Tuesday, October 17th will be paid a dividend of 0.75 per share by the financial services provider on Sunday, November 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, October 16th.

PNC Financial Services Group, Inc. (The) has raised its dividend by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 6 years. PNC Financial Services Group, Inc. (The) has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PNC Financial Services Group, Inc. (The) to earn $9.29 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 32.3%.

PNC Financial Services Group, Inc. (PNC) opened at 136.72 on Wednesday. The stock has a market cap of $65.52 billion, a PE ratio of 17.40 and a beta of 0.95. PNC Financial Services Group, Inc. has a 12 month low of $87.34 and a 12 month high of $136.92. The stock’s 50 day moving average price is $129.77 and its 200-day moving average price is $124.86.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. Analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Several equities analysts recently weighed in on PNC shares. Robert W. Baird reiterated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, August 28th. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Tuesday, September 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Sunday, August 27th. BidaskClub downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $127.00 target price (up from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $129.26.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the transaction, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group, Inc. (The) (PNC) To Go Ex-Dividend on October 16th” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2017/10/11/pnc-financial-services-group-inc-the-pnc-to-go-ex-dividend-on-october-16th.html.

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.

Dividend History for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply