Zacks: Analysts Anticipate PNC Financial Services Group Inc (PNC) Will Announce Quarterly Sales of $4.34 Billion

Brokerages expect that PNC Financial Services Group Inc (NYSE:PNC) will announce $4.34 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for PNC Financial Services Group’s earnings, with the highest sales estimate coming in at $4.46 billion and the lowest estimate coming in at $4.25 billion. PNC Financial Services Group reported sales of $4.13 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The firm is scheduled to issue its next earnings report on Friday, October 12th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $17.22 billion for the current financial year, with estimates ranging from $17.00 billion to $17.54 billion. For the next fiscal year, analysts forecast that the firm will post sales of $18.06 billion per share, with estimates ranging from $17.82 billion to $18.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow PNC Financial Services Group.

Separately, Bank of America lifted their price target on shares of PNC Financial Services Group from $166.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Seventeen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $150.87.

PNC Financial Services Group stock traded up $0.33 during mid-day trading on Wednesday, hitting $144.88. The company’s stock had a trading volume of 1,721,400 shares, compared to its average volume of 2,255,624. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market cap of $66.65 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.94. PNC Financial Services Group has a twelve month low of $119.77 and a twelve month high of $163.59.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 6th. Shareholders of record on Tuesday, July 17th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.62%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, July 16th. PNC Financial Services Group’s payout ratio is presently 44.71%.

In other news, Director Martin Pfinsgraff acquired 700 shares of the stock in a transaction on Wednesday, July 18th. The shares were purchased at an average cost of $142.15 per share, for a total transaction of $99,505.00. Following the transaction, the director now owns 1,050 shares in the company, valued at approximately $149,257.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Hannon sold 5,247 shares of PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the transaction, the insider now owns 58,239 shares in the company, valued at $8,233,829.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,247 shares of company stock worth $4,830,351. Corporate insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in PNC Financial Services Group by 1.1% during the 1st quarter. BlackRock Inc. now owns 28,481,880 shares of the financial services provider’s stock worth $4,307,600,000 after purchasing an additional 300,016 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PNC Financial Services Group by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 11,583,719 shares of the financial services provider’s stock valued at $1,751,922,000 after buying an additional 235,358 shares during the period. Jennison Associates LLC boosted its stake in shares of PNC Financial Services Group by 5.7% during the 2nd quarter. Jennison Associates LLC now owns 6,520,884 shares of the financial services provider’s stock valued at $880,971,000 after buying an additional 353,976 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of PNC Financial Services Group by 1.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,960,617 shares of the financial services provider’s stock valued at $264,880,000 after buying an additional 23,938 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of PNC Financial Services Group by 37.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,603,307 shares of the financial services provider’s stock valued at $216,609,000 after buying an additional 437,808 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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