The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) – Stock analysts at Zacks Research raised their Q3 2023 EPS estimates for shares of The PNC Financial Services Group in a research report issued to clients and investors on Wednesday, July 5th. Zacks Research analyst D. Chamria now expects that the financial services provider will post earnings per share of $3.30 for the quarter, up from their previous forecast of $3.27. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $13.60 per share. Zacks Research also issued estimates for The PNC Financial Services Group’s Q2 2025 earnings at $3.35 EPS and FY2025 earnings at $13.71 EPS.
The PNC Financial Services Group (NYSE:PNC – Free Report) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.38. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 23.95% and a return on equity of 13.41%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.29 earnings per share.
Several other research firms have also recently issued reports on PNC. StockNews.com began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 18th. They issued a “sell” rating for the company. UBS Group raised their price target on shares of The PNC Financial Services Group from $130.00 to $134.00 and gave the stock a “neutral” rating in a research note on Monday, April 17th. 888 reiterated a “reiterates” rating on shares of The PNC Financial Services Group in a research note on Monday, June 26th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $150.00 to $145.00 in a research note on Thursday, June 8th. Finally, Barclays dropped their price target on shares of The PNC Financial Services Group from $218.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. Four analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $162.04.
The PNC Financial Services Group Price Performance
The PNC Financial Services Group stock opened at $125.61 on Monday. The firm has a 50-day moving average price of $121.91 and a 200-day moving average price of $137.31. The firm has a market capitalization of $50.13 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. The PNC Financial Services Group has a 12-month low of $110.31 and a 12-month high of $176.34.
The PNC Financial Services Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, August 5th. Investors of record on Monday, July 17th will be given a $1.55 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a yield of 4.94%. The ex-dividend date is Friday, July 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.41%.
Insider Buying and Selling
In other The PNC Financial Services Group news, Director Joseph Alvarado acquired 1,000 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were acquired at an average cost of $123.89 per share, for a total transaction of $123,890.00. Following the completion of the purchase, the director now owns 1,100 shares of the company’s stock, valued at approximately $136,279. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Bryan Scott Salesky acquired 400 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $127.10 per share, for a total transaction of $50,840.00. Following the completion of the acquisition, the director now directly owns 410 shares in the company, valued at approximately $52,111. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Alvarado acquired 1,000 shares of the stock in a transaction on Friday, April 21st. The shares were purchased at an average price of $123.89 per share, with a total value of $123,890.00. Following the completion of the transaction, the director now owns 1,100 shares of the company’s stock, valued at $136,279. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.
Institutional Trading of The PNC Financial Services Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in The PNC Financial Services Group by 788.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock valued at $1,080,490,000 after buying an additional 7,544,029 shares during the last quarter. Norges Bank purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $735,469,000. Moneta Group Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after purchasing an additional 2,538,916 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in The PNC Financial Services Group by 105.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,535,019 shares of the financial services provider’s stock valued at $557,427,000 after acquiring an additional 1,813,876 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of The PNC Financial Services Group by 187.2% during the first quarter. First Trust Advisors LP now owns 2,000,936 shares of the financial services provider’s stock worth $254,319,000 after buying an additional 1,304,196 shares in the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. 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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