Wall Street analysts predict that PNC Financial Services Group Inc (NYSE:PNC) will post earnings per share of $2.83 for the current quarter, Zacks reports. Six analysts have provided estimates for PNC Financial Services Group’s earnings, with the lowest EPS estimate coming in at $2.78 and the highest estimate coming in at $2.86. PNC Financial Services Group reported earnings per share of $2.82 during the same quarter last year, which suggests a positive year-over-year growth rate of 0.4%. The firm is expected to report its next earnings report on Friday, October 11th.
According to Zacks, analysts expect that PNC Financial Services Group will report full year earnings of $11.28 per share for the current fiscal year, with EPS estimates ranging from $11.15 to $11.35. For the next financial year, analysts forecast that the business will report earnings of $12.04 per share, with EPS estimates ranging from $11.77 to $12.52. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow PNC Financial Services Group.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.05. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 earnings per share.
PNC stock traded up $2.26 during midday trading on Friday, hitting $127.00. The stock had a trading volume of 1,822,301 shares, compared to its average volume of 2,071,828. The firm has a market cap of $58.22 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07. The business has a 50-day moving average of $137.92 and a two-hundred day moving average of $131.33. PNC Financial Services Group has a 52-week low of $108.45 and a 52-week high of $147.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Thursday, July 18th. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s payout ratio is 42.95%.
In other news, insider Karen L. Larrimer sold 7,806 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $142.27, for a total value of $1,110,559.62. Following the completion of the sale, the insider now directly owns 30,978 shares in the company, valued at $4,407,240.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hannon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total value of $692,050.00. Following the completion of the sale, the insider now owns 52,417 shares of the company’s stock, valued at $7,255,036.97. The disclosure for this sale can be found here. Insiders sold a total of 141,242 shares of company stock valued at $19,853,468 in the last ninety days. 0.37% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in PNC Financial Services Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock worth $348,594,000 after buying an additional 41,309 shares in the last quarter. Geode Capital Management LLC boosted its stake in PNC Financial Services Group by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock worth $647,356,000 after buying an additional 323,714 shares in the last quarter. Virtu Financial LLC boosted its stake in PNC Financial Services Group by 11.9% in the first quarter. Virtu Financial LLC now owns 2,024 shares of the financial services provider’s stock worth $248,000 after buying an additional 216 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in PNC Financial Services Group by 19.1% in the first quarter. Carroll Financial Associates Inc. now owns 2,940 shares of the financial services provider’s stock worth $360,000 after buying an additional 472 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in PNC Financial Services Group in the first quarter worth approximately $265,000. Institutional investors and hedge funds own 81.65% of the company’s stock.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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