PNC Financial Services Group (NYSE:PNC) posted its quarterly earnings results on Friday. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09, Bloomberg Earnings reports. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 earnings per share.
PNC Financial Services Group (NYSE:PNC) opened at $151.84 on Friday. The firm has a market capitalization of $72,245.63, a P/E ratio of 14.60, a P/E/G ratio of 1.51 and a beta of 0.90. PNC Financial Services Group has a 52-week low of $113.66 and a 52-week high of $153.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.98%. PNC Financial Services Group’s payout ratio is 17.79%.
A number of research firms have recently issued reports on PNC. ValuEngine lowered PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Credit Suisse Group upped their price target on PNC Financial Services Group from $135.00 to $137.00 and gave the company a “neutral” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Tuesday, October 31st. Finally, Instinet restated a “neutral” rating and issued a $132.00 price target (up from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Seventeen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. PNC Financial Services Group has an average rating of “Hold” and an average target price of $142.33.
WARNING: “PNC Financial Services Group (PNC) Announces Quarterly Earnings Results” was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/14/pnc-financial-services-group-pnc-announces-quarterly-earnings-results.html.
PNC Financial Services Group 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.
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.