PNC Financial Services Group Inc (NYSE:PNC) – Stock analysts at Jefferies Group reduced their FY2018 earnings per share (EPS) estimates for shares of PNC Financial Services Group in a report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $10.55 for the year, down from their prior forecast of $10.65.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS.
Shares of PNC Financial Services Group (NYSE:PNC) traded up $1.97 during mid-day trading on Wednesday, reaching $154.23. The company had a trading volume of 2,738,500 shares, compared to its average volume of 2,607,500. The stock has a market cap of $73,140.00, a PE ratio of 14.79, a PEG ratio of 1.48 and a beta of 0.90. PNC Financial Services Group has a 52 week low of $113.66 and a 52 week high of $154.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93.
Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of PNC Financial Services Group by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 91 shares in the last quarter. Atlantic Trust LLC bought a new position in shares of PNC Financial Services Group in the 2nd quarter worth approximately $129,000. Legacy Advisors LLC bought a new position in shares of PNC Financial Services Group in the 3rd quarter worth approximately $136,000. Quadrant Capital Group LLC increased its position in PNC Financial Services Group by 0.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Finally, Capital Guardian Trust Co. bought a new position in PNC Financial Services Group during the 3rd quarter valued at approximately $154,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
In other news, insider E William Parsley III sold 46,307 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $143.43, for a total value of $6,641,813.01. Following the completion of the transaction, the insider now owns 132,544 shares of the company’s stock, valued at approximately $19,010,785.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the transaction, the insider now directly owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. Insiders have sold a total of 103,523 shares of company stock valued at $14,717,168 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 12.46%.
About PNC Financial Services Group
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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