PNC Financial Services Group, Inc. (The) (PNC) Scheduled to Post Earnings on Thursday

PNC Financial Services Group, Inc. (The) (NYSE:PNC) is set to release its earnings data before the market opens on Thursday, October 12th.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.82 earnings per share. On average, analysts expect PNC Financial Services Group, Inc. (The) to post $8.41 EPS for the current fiscal year and $9.29 EPS for the next fiscal year.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 136.72 on Wednesday. The company has a market cap of $65.52 billion, a PE ratio of 17.40 and a beta of 0.95. The stock has a 50 day moving average of $129.77 and a 200-day moving average of $124.86. PNC Financial Services Group, Inc. has a 12 month low of $87.34 and a 12 month high of $136.92.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $2.70 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.

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In other news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) 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 sale, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Friday, July 28th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird reissued a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $139.50 target price (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, October 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, October 3rd. 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. The stock has a consensus rating of “Hold” and an average price target of $129.26.

PNC Financial Services Group, Inc. (The) Company Profile

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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