Research Analysts Issue Forecasts for PNC Financial Services Group Inc’s Q3 2019 Earnings (NYSE:PNC)
PNC Financial Services Group Inc (NYSE:PNC) – Equities researchers at Piper Jaffray Companies raised their Q3 2019 EPS estimates for PNC Financial Services Group in a report released on Monday, July 8th. Piper Jaffray Companies analyst K. Barker now anticipates that the financial services provider will post earnings of $2.87 per share for the quarter, up from their prior estimate of $2.86. Piper Jaffray Companies also issued estimates for PNC Financial Services Group’s Q4 2019 earnings at $3.11 EPS, FY2019 earnings at $11.46 EPS and Q1 2020 earnings at $2.88 EPS.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, hitting the consensus estimate of $2.61. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. During the same quarter in the previous year, the firm posted $2.43 earnings per share.
Shares of PNC stock opened at $141.46 on Wednesday. The company has a market capitalization of $63.91 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $147.23. The stock has a 50-day moving average of $134.62.
Hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in PNC Financial Services Group in the 1st quarter worth approximately $25,000. Field & Main Bank purchased a new position in PNC Financial Services Group in the 1st quarter worth approximately $25,000. IMA Wealth Inc. purchased a new position in PNC Financial Services Group in the 1st quarter worth approximately $25,000. Penserra Capital Management LLC purchased a new position in PNC Financial Services Group in the 1st quarter worth approximately $25,000. Finally, Executive Wealth Management LLC purchased a new position in PNC Financial Services Group in the 4th quarter worth approximately $29,000. 80.31% of the stock is owned by institutional investors and hedge funds.
In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the transaction, the insider now owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, July 18th. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio is 35.48%.
PNC Financial Services Group Company Profile
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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