PNC Financial Services Group Inc (NYSE:PNC) Expected to Post Quarterly Sales of $4.41 Billion

Equities research analysts expect that PNC Financial Services Group Inc (NYSE:PNC) will announce sales of $4.41 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PNC Financial Services Group’s earnings, with the lowest sales estimate coming in at $4.38 billion and the highest estimate coming in at $4.45 billion. PNC Financial Services Group posted sales of $4.36 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The company is expected to announce its next quarterly earnings report on Friday, October 11th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $17.60 billion for the current financial year, with estimates ranging from $17.49 billion to $17.67 billion. For the next year, analysts anticipate that the business will post sales of $17.94 billion, with estimates ranging from $17.66 billion to $18.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.83 by $0.05. The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. PNC Financial Services Group’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.72 EPS.

PNC has been the topic of several recent research reports. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley set a $141.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $143.41.

In other PNC Financial Services Group news, CEO William S. Demchak sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $140.63, for a total value of $10,547,250.00. Following the transaction, the chief executive officer now directly owns 657,179 shares of the company’s stock, valued at approximately $92,419,082.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total value of $692,050.00. Following the completion of the transaction, the insider now directly owns 52,417 shares in the company, valued at $7,255,036.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,242 shares of company stock worth $19,853,468. 0.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PNC. Brightworth increased its holdings in shares of PNC Financial Services Group by 4.1% in the 2nd quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 70 shares during the last quarter. Holistic Financial Partners increased its holdings in shares of PNC Financial Services Group by 3.9% in the 1st quarter. Holistic Financial Partners now owns 2,139 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 80 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of PNC Financial Services Group by 0.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 11,211 shares of the financial services provider’s stock valued at $1,539,000 after acquiring an additional 81 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in shares of PNC Financial Services Group by 14.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 637 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 82 shares during the last quarter. Finally, Western Wealth Management LLC increased its holdings in shares of PNC Financial Services Group by 3.8% in the 2nd quarter. Western Wealth Management LLC now owns 2,253 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 83 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.

PNC Financial Services Group stock traded down $1.86 during midday trading on Friday, hitting $124.56. 65,215 shares of the company were exchanged, compared to its average volume of 2,149,572. The company’s fifty day moving average price is $136.56 and its 200-day moving average price is $131.33. The company has a market cap of $56.19 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $147.00.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.69%. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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