The PNC Financial Services Group (NYSE:PNC – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Friday, October 14th. Analysts expect The PNC Financial Services Group to post earnings of $3.77 per share for the quarter. The PNC Financial Services Group has set its Q3 2022 guidance at EPS and its FY 2022 guidance at EPS.Individual 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 released its earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.50 earnings per share. 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.
The PNC Financial Services Group Stock Down 2.2 %
The PNC Financial Services Group stock opened at $155.71 on Friday. The company has a market cap of $63.86 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The PNC Financial Services Group has a 1-year low of $146.39 and a 1-year high of $228.14. The company has a fifty day simple moving average of $162.44 and a 200 day simple moving average of $166.31. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75.
The PNC Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, November 5th. Shareholders of record on Monday, October 17th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 46.95%.
Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Michael P. Lyons sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total value of $584,360.00. Following the transaction, the executive vice president now directly owns 174,651 shares of the company’s stock, valued at approximately $29,159,730.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On The PNC Financial Services Group
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Centiva Capital LP grew its holdings in shares of The PNC Financial Services Group by 6.5% during the 2nd quarter. Centiva Capital LP now owns 3,493 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 212 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in The PNC Financial Services Group by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,979 shares of the financial services provider’s stock worth $3,152,000 after acquiring an additional 112 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 14.9% during the 1st quarter. EP Wealth Advisors LLC now owns 2,187 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 283 shares during the last quarter. Toroso Investments LLC grew its holdings in The PNC Financial Services Group by 3.0% during the 1st quarter. Toroso Investments LLC now owns 4,624 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 136 shares during the last quarter. Finally, Nomura Holdings Inc. grew its holdings in The PNC Financial Services Group by 11.6% during the 1st quarter. Nomura Holdings Inc. now owns 8,404 shares of the financial services provider’s stock worth $1,523,000 after acquiring an additional 876 shares during the last quarter. 81.89% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on PNC shares. Raymond James cut shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays cut their price target on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Piper Sandler set a $160.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, July 19th. Finally, Wells Fargo & Company cut their target price on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $195.38.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.
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