PNC Financial Services Group (PNC) Announces Quarterly Earnings Results

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%.

In other PNC Financial Services Group news, insider Orlando C. Esposito sold 4,505 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $138.85, for a total transaction of $625,519.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Karen L. Larrimer sold 3,135 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the transaction, the insider now owns 20,449 shares in the company, valued at $2,801,104.02. The disclosure for this sale can be found here. Insiders sold 108,523 shares of company stock valued at $15,392,168 over the last quarter. 0.43% of the stock is currently owned by company insiders.

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.

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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.

Earnings History for PNC Financial Services Group (NYSE:PNC)

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