Jefferies Financial Group Equities Analysts Raise Earnings Estimates for PNC Financial Services Group Inc (NYSE:PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Analysts at Jefferies Financial Group lifted their FY2019 EPS estimates for shares of PNC Financial Services Group in a report released on Wednesday, October 16th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $11.37 for the year, up from their prior estimate of $11.22. Jefferies Financial Group also issued estimates for PNC Financial Services Group’s Q1 2020 earnings at $2.77 EPS, Q2 2020 earnings at $2.91 EPS, Q3 2020 earnings at $2.92 EPS and Q4 2020 earnings at $3.05 EPS.

A number of other research analysts have also commented on PNC. JPMorgan Chase & Co. upped their price target 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. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the company a “buy” rating in a research report on Monday, August 26th. Wells Fargo & Co upped their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Barclays set a $158.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target for the company. in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $143.74.

PNC opened at $145.46 on Monday. The business has a 50 day simple moving average of $138.84 and a two-hundred day simple moving average of $134.94. The firm has a market capitalization of $63.90 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.74 and a beta of 1.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.89 and a quick ratio of 0.89. PNC Financial Services Group has a one year low of $108.45 and a one year high of $146.88.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. PNC Financial Services Group’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

In other news, insider Gregory H. Kozich sold 3,441 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $144.24, for a total value of $496,329.84. Following the completion of the transaction, the insider now owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Bunch bought 1,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $124.38 per share, with a total value of $124,380.00. Following the transaction, the director now directly owns 3,781 shares in the company, valued at approximately $470,280.78. The disclosure for this purchase can be found here. Insiders sold a total of 39,089 shares of company stock valued at $5,472,343 in the last three months. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently made changes to their positions in the company. Bath Savings Trust Co bought a new position in shares of PNC Financial Services Group during the second quarter valued at $223,000. Park National Corp OH lifted its holdings in shares of PNC Financial Services Group by 9.6% during the second quarter. Park National Corp OH now owns 74,862 shares of the financial services provider’s stock valued at $10,277,000 after acquiring an additional 6,529 shares during the period. Montecito Bank & Trust bought a new position in shares of PNC Financial Services Group during the second quarter valued at $213,000. Rockland Trust Co. lifted its holdings in shares of PNC Financial Services Group by 8.9% during the second quarter. Rockland Trust Co. now owns 4,946 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 405 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of PNC Financial Services Group by 5.6% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 29,026 shares of the financial services provider’s stock valued at $3,984,000 after acquiring an additional 1,530 shares during the period. 80.82% of the stock is owned by hedge funds and other institutional investors.

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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