The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) – Research analysts at Zacks Research upped their Q1 2024 earnings estimates for The PNC Financial Services Group in a note issued to investors on Tuesday, February 6th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $3.02 per share for the quarter, up from their prior estimate of $2.94. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $12.30 per share. Zacks Research also issued estimates for The PNC Financial Services Group’s Q3 2024 earnings at $3.08 EPS, Q4 2024 earnings at $3.00 EPS, Q2 2025 earnings at $3.37 EPS, Q3 2025 earnings at $3.56 EPS, Q4 2025 earnings at $3.70 EPS, FY2025 earnings at $13.78 EPS and FY2026 earnings at $15.72 EPS.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis.
A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $146.59.
Get Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Trading Down 0.8 %
PNC opened at $148.17 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $59.02 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The firm has a 50 day simple moving average of $149.41 and a 200 day simple moving average of $132.33. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $163.14.
Institutional Trading of The PNC Financial Services Group
Large investors have recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in shares of The PNC Financial Services Group in the second quarter valued at about $25,000. OFI Invest Asset Management bought a new position in shares of The PNC Financial Services Group in the third quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Finally, Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total value of $203,137.83. Following the completion of the sale, the executive vice president now owns 17,092 shares in the company, valued at $2,264,860.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider The PNC Financial Services Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and The PNC Financial Services Group wasn’t on the list.
While The PNC Financial Services Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
Source: marketbeat.com
