The PNC Financial Services Group (NYSE:PNC – Get Rating) is set to release its earnings data before the market opens on Friday, July 15th. Analysts expect The PNC Financial Services Group to post earnings of $3.25 per share for the quarter. The PNC Financial Services Group has set its Q2 2022 guidance at EPS and its FY 2022 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.78 by $0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business posted $4.10 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts expect The PNC Financial Services Group to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.
Shares of PNC stock opened at $162.31 on Friday. The PNC Financial Services Group has a one year low of $149.51 and a one year high of $228.14. The company has a 50 day moving average price of $162.97 and a 200 day moving average price of $185.05. The firm has a market capitalization of $67.13 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Tuesday, July 12th. The PNC Financial Services Group’s payout ratio is currently 50.76%.
PNC has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on shares of 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. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a research report on Monday, March 28th. StockNews.com initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Raymond James downgraded shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $214.40.
In other news, Director Robert A. Niblock bought 2,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 6th. The shares were bought at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the purchase, the director now owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total transaction of $214,393.92. Following the completion of the sale, the executive vice president now 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 have recently made changes to their positions in the company. 1832 Asset Management L.P. boosted 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 acquiring an additional 67 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 7.1% in the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after buying an additional 79 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after buying an additional 89 shares during the last quarter. West Family Investments Inc. boosted its holdings in shares of The PNC Financial Services Group by 9.1% in the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock valued at $215,000 after buying an additional 97 shares during the last quarter. Finally, Rodgers Brothers Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.7% in the 1st quarter. Rodgers Brothers Inc. now owns 3,463 shares of the financial services provider’s stock valued at $639,000 after buying an additional 125 shares during the last quarter. 83.54% of the stock is owned by institutional investors.
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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