The PNC Financial Services Group (NYSE:PNC) Announces Earnings Results

The PNC Financial Services Group (NYSE:PNCGet Free Report) posted its earnings results on Tuesday. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04, RTT News reports. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $3.49 EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis.

The PNC Financial Services Group Trading Down 0.1 %

NYSE:PNC opened at $148.82 on Thursday. The business’s 50-day moving average is $142.68 and its two-hundred day moving average is $130.08. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.82. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $167.12. The firm has a market capitalization of $59.28 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PNC shares. Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price for the company in a report on Thursday, December 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $147.43.

Get Our Latest Research Report on The PNC Financial Services Group

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $132.51, for a total value of $203,137.83. Following the transaction, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at $2,264,860.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PNC. Capital International Investors raised its position in The PNC Financial Services Group by 615.1% in the second quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock valued at $1,086,142,000 after purchasing an additional 7,417,830 shares during the period. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $735,469,000. Moneta Group Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after acquiring an additional 2,538,916 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of The PNC Financial Services Group by 98,059.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock worth $186,931,000 after acquiring an additional 1,482,657 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after acquiring an additional 1,045,055 shares during the last quarter. 80.14% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

(Get Free Report)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

See Also

Earnings History for The PNC Financial Services Group (NYSE:PNC)

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