The PNC Financial Services Group (NYSE:PNC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

The PNC Financial Services Group (NYSE:PNC) released its quarterly earnings data on Tuesday. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01, RTT News reports. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 EPS.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $0.12 during trading on Wednesday, reaching $146.66. The stock had a trading volume of 1,155,965 shares, compared to its average volume of 2,144,395. The stock has a market cap of $58.34 billion, a PE ratio of 11.49, a P/E/G ratio of 1.72 and a beta of 1.18. The firm’s 50 day moving average price is $151.82 and its two-hundred day moving average price is $141.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.23%. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNC shares. UBS Group increased their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $156.46.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hobbs Group Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. SageView Advisory Group LLC increased its position in The PNC Financial Services Group by 125.4% in the fourth quarter. SageView Advisory Group LLC now owns 9,030 shares of the financial services provider’s stock worth $1,393,000 after buying an additional 5,023 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in The PNC Financial Services Group in the fourth quarter valued at $2,579,000. Childress Capital Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $226,000. Finally, Harbour Investments Inc. boosted its stake in The PNC Financial Services Group by 71.5% during the 4th quarter. Harbour Investments Inc. now owns 1,922 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 801 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.