Wall Street analysts expect The PNC Financial Services Group, Inc. (NYSE:PNC) to post $5.05 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for The PNC Financial Services Group’s earnings, with the highest sales estimate coming in at $5.07 billion and the lowest estimate coming in at $5.02 billion. The PNC Financial Services Group reported sales of $4.28 billion in the same quarter last year, which indicates a positive year over year growth rate of 18%. The firm is scheduled to announce its next earnings report before the market opens on Friday, October 15th.
On average, analysts expect that The PNC Financial Services Group will report full year sales of $19.02 billion for the current year, with estimates ranging from $18.99 billion to $19.06 billion. For the next year, analysts expect that the business will report sales of $20.33 billion, with estimates ranging from $19.93 billion to $20.65 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover The PNC Financial Services Group.
The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.34). The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.40 billion. The PNC Financial Services Group had a return on equity of 12.53% and a net margin of 32.72%. The PNC Financial Services Group’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.40 EPS.
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 4,200 shares of the company’s stock in a transaction on Wednesday, July 21st. The stock was 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 of the company’s stock, valued at approximately $8,770,620. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 4,575 shares of company stock worth $845,141. Company insiders own 0.30% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Cypress Point Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $25,000. Paragon Wealth Strategies LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $26,000. Better Money Decisions LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $28,000. 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. increased its position in shares of The PNC Financial Services Group by 39.0% in the 2nd quarter. MV Capital Management Inc. now owns 221 shares of the financial services provider’s stock valued at $42,000 after buying an additional 62 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.
PNC traded up $2.53 on Friday, hitting $190.88. 41,853 shares of the stock traded hands, compared to its average volume of 1,775,648. The PNC Financial Services Group has a 52 week low of $101.58 and a 52 week high of $203.88. 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 firm has a market capitalization of $81.10 billion, a PE ratio of 14.47, a P/E/G ratio of 0.51 and a beta of 1.40. The business has a fifty day moving average price of $188.07 and a two-hundred day moving average price of $185.96.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 5th. Shareholders of record on Friday, July 16th were issued 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 of this dividend was Thursday, July 15th. This represents a $5.00 annualized dividend and a yield of 2.62%. The PNC Financial Services Group’s dividend payout ratio is currently 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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