The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) – Analysts at Zacks Research dropped their Q2 2024 EPS estimates for shares of The PNC Financial Services Group in a research report issued on Tuesday, May 7th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $2.98 per share for the quarter, down from their prior estimate of $3.07. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $12.64 per share. Zacks Research also issued estimates for The PNC Financial Services Group’s Q3 2024 earnings at $3.17 EPS, Q4 2024 earnings at $3.00 EPS, FY2024 earnings at $12.51 EPS, Q1 2025 earnings at $3.35 EPS, Q2 2025 earnings at $3.36 EPS, Q4 2025 earnings at $3.78 EPS, FY2025 earnings at $14.22 EPS and FY2026 earnings at $16.41 EPS.
A number of other analysts have also weighed in on the stock. UBS Group upped their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.02.
View Our Latest Stock Report on PNC
The PNC Financial Services Group Stock Performance
The PNC Financial Services Group stock opened at $157.59 on Friday. The firm’s 50 day simple moving average is $154.45 and its 200 day simple moving average is $145.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.69 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $162.24.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.98 EPS.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $28,000. 83.53% of the stock is currently owned by institutional investors.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.93%. The PNC Financial Services Group’s payout ratio is currently 52.06%.
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 time 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.
Featured Articles
Receive News & Ratings for The PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
