PNC Financial Services Group Inc (NYSE:PNC) announced a quarterly dividend on Tuesday, June 30th, RTT News reports. Shareholders of record on Friday, July 17th will be given a dividend of 1.15 per share by the financial services provider on Wednesday, August 5th. This represents a $4.60 annualized dividend and a yield of 4.38%.
PNC Financial Services Group has increased its dividend payment by an average of 150.0% per year over the last three years and has increased its dividend every year for the last 9 years. PNC Financial Services Group has a dividend payout ratio of 80.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect PNC Financial Services Group to earn $7.54 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 61.0%.
PNC stock traded up $2.29 during trading on Tuesday, reaching $105.12. The stock had a trading volume of 58,304 shares, compared to its average volume of 3,370,574. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 2.59 and a beta of 1.29. PNC Financial Services Group has a one year low of $79.41 and a one year high of $161.79. The company’s 50 day moving average is $109.34 and its two-hundred day moving average is $124.95.
In related news, Director Richard J. Harshman purchased 1,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $97.55 per share, for a total transaction of $97,550.00. Following the completion of the purchase, the director now directly owns 1,150 shares of the company’s stock, valued at $112,182.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.
PNC has been the subject of several research analyst reports. Nomura Securities raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $114.00 in a research report on Thursday, April 16th. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research report on Sunday, April 19th. Deutsche Bank lowered their price target on shares of PNC Financial Services Group from $155.00 to $108.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods raised shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $136.00 price target for the company in a research report on Wednesday, April 1st. Finally, Citigroup lowered their price target on shares of PNC Financial Services Group from $130.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $129.67.
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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