The PNC Financial Services Group (NYSE:PNC – Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19, Briefing.com reports. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS.
The PNC Financial Services Group Stock Down 1.3 %
PNC stock opened at $189.92 on Thursday. The business’s 50-day simple moving average is $180.07 and its 200 day simple moving average is $166.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a market cap of $75.57 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $196.64.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 53.74%.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PNC. Stephens raised their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Barclays increased their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $185.71.
About The PNC Financial Services Group
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.
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