The PNC Financial Services Group (NYSE:PNC) Issues Earnings Results, Beats Estimates By $0.18 EPS

The PNC Financial Services Group (NYSE:PNC) announced its quarterly earnings results on Thursday. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18, FiscalAI reports. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $215.39 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $258.96. The firm has a fifty day moving average price of $236.79 and a two-hundred day moving average price of $233.09. The company has a market cap of $85.93 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

Insider Activity

In other news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PNC. Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. UBS Group lowered their target price on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $269.50 to $258.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.