PNC Financial Services Group Inc. (NYSE:PNC) declared a quarterly dividend on Tuesday, October 4th. Shareholders of record on Monday, October 17th will be given a dividend of 0.55 per share on Saturday, November 5th. This represents a $2.20 annualized dividend and a dividend yield of 2.46%.
PNC Financial Services Group (NYSE:PNC) opened at 89.40 on Tuesday. The firm has a market cap of $43.93 billion, a P/E ratio of 12.33 and a beta of 0.91. The firm has a 50 day moving average of $88.57 and a 200 day moving average of $85.88. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $97.50.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, July 15th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.75 by $0.07. The business had revenue of $3.79 billion for the quarter. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 earnings per share. On average, equities research analysts expect that PNC Financial Services Group will post $7.10 EPS for the current year.
Several research firms have recently commented on PNC. Vetr upgraded shares of PNC Financial Services Group from a “buy” rating to a “strong-buy” rating and set a $98.50 price target on the stock in a research report on Monday, September 26th. Jefferies Group reissued a “hold” rating and set a $94.00 price objective (up previously from $88.00) on shares of PNC Financial Services Group in a research note on Monday, September 26th. Credit Agricole SA upped their price objective on shares of PNC Financial Services Group from $86.00 to $92.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. BMO Capital Markets raised shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $94.00 to $101.00 in a research note on Monday, September 19th. They noted that the move was a valuation call. Finally, Bank of America Corp. set a $100.00 price objective on shares of PNC Financial Services Group and gave the company a “buy” rating in a research note on Wednesday, September 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.83.
In related news, insider Michael J. Hannon sold 33,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the completion of the sale, the insider now directly owns 87,573 shares of the company’s stock, valued at approximately $7,574,188.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Hesse purchased 500 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were purchased at an average cost of $82.44 per share, with a total value of $41,220.00. Following the completion of the acquisition, the director now owns 1,100 shares in the company, valued at approximately $90,684. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PNC. MCF Advisors LLC raised its stake in PNC Financial Services Group by 1.6% in the second quarter. MCF Advisors LLC now owns 2,238 shares of the company’s stock worth $182,000 after buying an additional 35 shares during the last quarter. Euclid Advisors LLC purchased a new stake in PNC Financial Services Group during the second quarter worth $290,000. AHL Partners LLP purchased a new stake in PNC Financial Services Group during the second quarter worth $299,000. Meiji Yasuda Life Insurance Co purchased a new stake in PNC Financial Services Group during the second quarter worth $300,000. Finally, Ingalls & Snyder LLC purchased a new stake in PNC Financial Services Group during the second quarter worth $304,000. 80.21% of the stock is owned by institutional investors and hedge funds.
About PNC Financial Services Group
The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.
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