The PNC Financial Services Group, Inc. (NYSE:PNC) to Post Q3 2021 Earnings of $3.97 Per Share, Piper Sandler Forecasts

The PNC Financial Services Group, Inc. (NYSE:PNC) – Investment analysts at Piper Sandler lifted their Q3 2021 earnings per share (EPS) estimates for The PNC Financial Services Group in a research report issued on Tuesday, September 14th. Piper Sandler analyst R. Siefers now anticipates that the financial services provider will post earnings per share of $3.97 for the quarter, up from their prior forecast of $3.06. Piper Sandler also issued estimates for The PNC Financial Services Group’s Q4 2021 earnings at $4.10 EPS, Q1 2022 earnings at $3.26 EPS, Q2 2022 earnings at $3.47 EPS and FY2022 earnings at $13.91 EPS.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of The PNC Financial Services Group from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 15th. Credit Suisse Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $192.00 and gave the company a “neutral” rating in a research report on Monday, July 19th. Evercore ISI began coverage on shares of The PNC Financial Services Group in a research report on Wednesday, June 2nd. They set an “outperform” rating on the stock. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $192.00 to $193.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Finally, Odeon Capital Group cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $184.20.

Shares of NYSE:PNC opened at $189.90 on Friday. The company has a market cap of $80.68 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The company has a 50-day moving average price of $188.28 and a 200-day moving average price of $186.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. The PNC Financial Services Group has a 12 month low of $101.58 and a 12 month high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $2.43 EPS for the quarter, missing the consensus estimate of $2.77 by ($0.34). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.40 billion. The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $8.40 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Cypress Point Wealth Management LLC bought a new position in The PNC Financial Services Group in the second quarter worth approximately $25,000. Paragon Wealth Strategies LLC bought a new position in The PNC Financial Services Group in the second quarter worth approximately $26,000. Financial Advantage Inc. raised its position in shares of The PNC Financial Services Group by 50.7% during the 2nd quarter. Financial Advantage Inc. now owns 743 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 250 shares during the period. Strategic Blueprint LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $35,000. Finally, MV Capital Management Inc. raised its position in shares of The PNC Financial Services Group by 39.0% during the 2nd quarter. MV Capital Management Inc. now owns 221 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

In related news, EVP Michael J. Hannon sold 4,200 shares of the stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $184.16, for a total transaction of $773,472.00. Following the transaction, the executive vice president now owns 47,625 shares in the company, valued at $8,770,620. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 4,575 shares of company stock worth $845,141. 0.30% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 5th. Investors of record on Friday, July 16th were given a dividend of $1.25 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.15. The ex-dividend date was Thursday, July 15th. This represents a $5.00 dividend on an annualized basis and a yield of 2.63%. The PNC Financial Services Group’s dividend payout ratio is 78.62%.

The PNC Financial Services Group Company Profile

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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Earnings History and Estimates for The PNC Financial Services Group (NYSE:PNC)

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