The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) – Jefferies Financial Group lowered their Q4 2022 earnings per share estimates for The PNC Financial Services Group in a research report issued on Monday, January 9th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $3.80 for the quarter, down from their prior estimate of $3.82. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $14.40 per share. Jefferies Financial Group also issued estimates for The PNC Financial Services Group’s Q1 2023 earnings at $3.35 EPS, Q4 2023 earnings at $2.99 EPS, Q1 2024 earnings at $3.92 EPS and Q2 2024 earnings at $3.60 EPS.
A number of other equities research analysts have also recently weighed in on PNC. Evercore ISI cut their price objective on shares of The PNC Financial Services Group to $180.00 in a research note on Thursday, October 20th. Deutsche Bank Aktiengesellschaft upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the company from $200.00 to $190.00 in a research note on Friday. Citigroup lifted their price objective on shares of The PNC Financial Services Group to $180.00 in a research note on Friday, December 2nd. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Compass Point lowered their target price on The PNC Financial Services Group to $160.00 in a report on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $183.50.
The PNC Financial Services Group Price Performance
Shares of NYSE PNC opened at $164.28 on Tuesday. The PNC Financial Services Group has a fifty-two week low of $143.52 and a fifty-two week high of $228.14. The firm’s 50-day simple moving average is $158.77 and its 200 day simple moving average is $159.80. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.17. The stock has a market cap of $66.26 billion, a P/E ratio of 12.39, a P/E/G ratio of 2.29 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its earnings results on Friday, October 14th. The financial services provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.12. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 12.45% and a net margin of 26.96%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $3.75 earnings per share.
Hedge Funds Weigh In On The PNC Financial Services Group
Several institutional investors and hedge funds have recently bought and sold shares of PNC. Blair William & Co. IL grew its stake in The PNC Financial Services Group by 0.5% during 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 acquiring an additional 89 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of The PNC Financial Services Group by 12.0% during the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after buying an additional 1,724 shares during the last quarter. Covestor Ltd lifted its holdings in shares of 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 valued at $62,000 after buying an additional 137 shares during the last quarter. West Family Investments Inc. lifted its holdings in shares of 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 valued at $215,000 after buying an additional 97 shares during the last quarter. Finally, Ergoteles LLC lifted its holdings in shares of The PNC Financial Services Group by 137.9% during the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 12,201 shares during the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.
Insider Buying and Selling
In related news, EVP Guild Deborah sold 2,833 shares of The PNC Financial Services Group stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $159.66, for a total value of $452,316.78. Following the transaction, the executive vice president now owns 20,527 shares of the company’s stock, valued at approximately $3,277,340.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Investors of record on Tuesday, January 17th will be paid a $1.50 dividend. The ex-dividend date is Friday, January 13th. This represents a $6.00 dividend on an annualized basis and a yield of 3.65%. The PNC Financial Services Group’s dividend payout ratio is currently 45.25%.
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.
See Also
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