PNC Financial Services Group, Inc. (The) (NYSE:PNC) issued its quarterly earnings results on Thursday. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03, Bloomberg Earnings reports. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the firm earned $1.84 EPS. The business’s revenue was up 7.7% on a year-over-year basis.

PNC Financial Services Group, Inc. (PNC) opened at 135.27 on Friday. The stock’s 50 day moving average is $130.25 and its 200-day moving average is $125.02. PNC Financial Services Group, Inc. has a 12-month low of $87.59 and a 12-month high of $137.41. The company has a market capitalization of $64.82 billion, a P/E ratio of 17.21 and a beta of 0.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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

A number of analysts have weighed in on PNC shares. Robert W. Baird reissued a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, August 27th. BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $127.00 price target (up from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $129.26.

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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.

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

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