Brokerages predict that PNC Financial Services Group, Inc. (The) (NYSE:PNC) will report $4.09 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for PNC Financial Services Group, Inc. (The)’s earnings, with the highest sales estimate coming in at $4.15 billion and the lowest estimate coming in at $4.06 billion. PNC Financial Services Group, Inc. (The) posted sales of $3.83 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is expected to issue its next quarterly earnings report before the market opens on Friday, October 13th.

According to Zacks, analysts expect that PNC Financial Services Group, Inc. (The) will report full year sales of $4.09 billion for the current fiscal year, with estimates ranging from $16.08 billion to $16.41 billion. For the next year, analysts anticipate that the company will report sales of $17.04 billion per share, with estimates ranging from $16.69 billion to $17.70 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for PNC Financial Services Group, Inc. (The).

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share.

A number of analysts have recently issued reports on PNC shares. BidaskClub lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Credit Suisse Group reaffirmed a “neutral” rating and set a $126.00 target price (up from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Finally, Keefe, Bruyette & Woods set a $125.00 target price on PNC Financial Services Group, Inc. (The) and gave the stock a “hold” rating in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) presently has a consensus rating of “Hold” and a consensus target price of $122.57.

TRADEMARK VIOLATION WARNING: “PNC Financial Services Group, Inc. (The) (PNC) Expected to Post Quarterly Sales of $4.09 Billion” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/28/pnc-financial-services-group-inc-the-pnc-expected-to-post-quarterly-sales-of-4-09-billion.html.

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

Several institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC increased its position in shares of PNC Financial Services Group, Inc. (The) by 6.6% in the first quarter. Mycio Wealth Partners LLC now owns 8,591 shares of the financial services provider’s stock valued at $1,033,000 after buying an additional 533 shares in the last quarter. Acadian Asset Management LLC increased its stake in PNC Financial Services Group, Inc. (The) by 453.7% in the first quarter. Acadian Asset Management LLC now owns 41,999 shares of the financial services provider’s stock worth $5,050,000 after buying an additional 34,414 shares during the period. ProShare Advisors LLC increased its stake in PNC Financial Services Group, Inc. (The) by 2.0% in the first quarter. ProShare Advisors LLC now owns 121,571 shares of the financial services provider’s stock worth $14,618,000 after buying an additional 2,342 shares during the period. Korea Investment CORP increased its stake in PNC Financial Services Group, Inc. (The) by 48.6% in the first quarter. Korea Investment CORP now owns 439,385 shares of the financial services provider’s stock worth $52,832,000 after buying an additional 143,605 shares during the period. Finally, PGGM Investments increased its stake in PNC Financial Services Group, Inc. (The) by 16.5% in the first quarter. PGGM Investments now owns 397,566 shares of the financial services provider’s stock worth $47,803,000 after buying an additional 56,449 shares during the period. Institutional investors and hedge funds own 81.16% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 127.88 on Monday. PNC Financial Services Group, Inc. has a one year low of $85.80 and a one year high of $133.26. The firm has a 50-day moving average price of $128.40 and a 200 day moving average price of $123.82. The firm has a market cap of $61.28 billion, a P/E ratio of 16.27 and a beta of 0.93.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, July 13th. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 2.35%. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $2.70 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.

Get a free copy of the Zacks research report on PNC Financial Services Group, Inc. (The) (PNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Receive News & Stock 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 stocks with our FREE daily email newsletter.