The PNC Financial Services Group (NYSE:PNC) Issues Earnings Results, Beats Expectations By $0.01 EPS

The PNC Financial Services Group (NYSE:PNC) released its quarterly earnings results on Tuesday. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01, RTT News reports. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 EPS.

The PNC Financial Services Group Stock Up 0.5 %

Shares of PNC opened at $147.25 on Thursday. The firm has a market cap of $58.58 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24. The company’s 50-day moving average price is $151.80 and its 200 day moving average price is $141.68. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed 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 is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Activity at The PNC Financial Services Group

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

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors have recently bought and sold shares of PNC. Tyler Stone Wealth Management acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $29,000. Cornerstone Planning Group LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $30,000. Hobbs Group Advisors LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Chilton Capital Management LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $33,000. Finally, 1832 Asset Management L.P. grew its position in The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 67 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. UBS Group raised their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday. Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. The Goldman Sachs Group lifted their price target 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, Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $156.63.

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.