The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) announced a quarterly dividend on Friday, July 1st, RTT News reports. Stockholders of record on Wednesday, July 13th will be paid a dividend of 1.50 per share by the financial services provider on Friday, August 5th. This represents a $6.00 annualized dividend and a dividend yield of 3.81%.
The PNC Financial Services Group has increased its dividend payment by an average of 12.2% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. The PNC Financial Services Group has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect The PNC Financial Services Group to earn $16.45 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 36.5%.
Shares of NYSE:PNC traded down $0.13 during trading on Friday, hitting $157.64. 28,405 shares of the stock were exchanged, compared to its average volume of 2,340,729. The PNC Financial Services Group has a 12-month low of $149.51 and a 12-month high of $228.14. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $163.99 and a two-hundred day moving average price of $186.32. The company has a market cap of $65.20 billion, a PE ratio of 13.35, a P/E/G ratio of 2.25 and a beta of 1.24.
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!
When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its earnings results on Thursday, April 14th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the company earned $4.10 EPS. The PNC Financial Services Group’s revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group will post 14.19 earnings per share for the current fiscal year.
In other news, Director Robert A. Niblock bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average price of $167.07 per share, with a total value of $334,140.00. Following the completion of the acquisition, the director now directly owns 6,063 shares in the company, valued at $1,012,945.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now directly owns 23,360 shares in the company, valued at approximately $3,984,281.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PNC. 1832 Asset Management L.P. grew its position in The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 67 shares in the last quarter. Covestor Ltd grew its position in The PNC Financial Services Group by 68.8% during the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares in the last quarter. West Family Investments Inc. grew its position in The PNC Financial Services Group by 9.1% during the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 97 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in The PNC Financial Services Group during the 1st quarter worth approximately $220,000. Finally, KCM Investment Advisors LLC grew its position in The PNC Financial Services Group by 7.1% during the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 79 shares in the last quarter. 83.54% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on PNC shares. Argus dropped their price objective on The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Raymond James dropped their price objective on The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Morgan Stanley lowered their price target on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a report on Monday, March 28th. Piper Sandler lowered their price target on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a report on Friday, April 1st. Finally, Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $214.40.
About The PNC Financial Services Group (Get Rating)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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