PNC Financial Services Group (NYSE:PNC) Issues Earnings Results, Beats Expectations By $1.27 EPS

PNC Financial Services Group (NYSE:PNC) released its quarterly earnings results on Wednesday. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $1.27, MarketWatch Earnings reports. PNC Financial Services Group had a net margin of 35.52% and a return on equity of 5.78%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the company earned $2.94 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year.

Shares of NYSE PNC traded down $1.13 during trading on Thursday, hitting $108.70. 1,035 shares of the company were exchanged, compared to its average volume of 2,740,680. PNC Financial Services Group has a 12-month low of $79.41 and a 12-month high of $161.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87. The company has a fifty day moving average price of $111.15 and a 200-day moving average price of $106.71. The firm has a market capitalization of $46.62 billion, a PE ratio of 6.69, a P/E/G ratio of 4.71 and a beta of 1.26.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Friday, October 16th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $4.60 annualized dividend and a dividend yield of 4.23%. PNC Financial Services Group’s dividend payout ratio is presently 40.39%.

A number of equities research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of PNC Financial Services Group in a research note on Friday, July 31st. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on PNC Financial Services Group from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Credit Suisse Group raised their price objective on PNC Financial Services Group from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $118.00 price objective on the stock. in a report on Monday, October 5th. Finally, Bank of America decreased their price objective on PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $120.47.

About PNC Financial Services Group

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 for PNC Financial Services Group (NYSE:PNC)

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