The PNC Financial Services Group (PNC) Set to Announce Quarterly Earnings on Tuesday

The PNC Financial Services Group (NYSE:PNC) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, April 16th. Analysts expect the company to announce earnings of $3.05 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $3.49 EPS. On average, analysts expect The PNC Financial Services Group to post $12 EPS for the current fiscal year and $14 EPS for the next fiscal year.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $150.63 on Monday. The stock has a market capitalization of $59.92 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.73 and a beta of 1.18. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a 50 day moving average of $151.80 and a 200-day moving average of $141.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.12%. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNC. Tyler Stone Wealth Management bought a new position in shares of The PNC Financial Services Group in the second quarter worth $29,000. Cornerstone Planning Group LLC bought a new position in shares of The PNC Financial Services Group in the second quarter worth $30,000. Hobbs Group Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Chilton Capital Management LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth $33,000. Finally, 1832 Asset Management L.P. increased its position in shares of The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. UBS Group raised their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $157.10.

About The PNC Financial Services Group

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 time 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.