The PNC Financial Services Group (PNC) Scheduled to Post Quarterly Earnings on Tuesday

The PNC Financial Services Group (NYSE:PNC) is set to announce its earnings results before the market opens on Tuesday, October 15th. Analysts expect the company to announce earnings of $3.17 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.36 EPS. On average, analysts expect The PNC Financial Services Group to post $13 EPS for the current fiscal year and $15 EPS for the next fiscal year.

The PNC Financial Services Group Trading Up 2.4 %

Shares of PNC opened at $187.77 on Friday. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $189.17. The firm has a market capitalization of $74.71 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.01 and a beta of 1.14. The firm’s 50-day moving average price is $178.68 and its 200-day moving average price is $166.16. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the transaction, the chief executive officer now directly owns 562,153 shares in the company, valued at approximately $99,315,570.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares in the company, valued at approximately $99,315,570.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,420 shares of company stock valued at $4,212,785. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNC shares. Jefferies Financial Group boosted their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Barclays upped their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.65.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.