The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) – Equities researchers at Oppenheimer increased their FY2023 EPS estimates for The PNC Financial Services Group in a research report issued on Thursday, November 17th. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will earn $16.54 per share for the year, up from their previous forecast of $16.47. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $14.43 per share.
PNC has been the subject of several other research reports. Evercore ISI reduced their price target on shares of The PNC Financial Services Group to $180.00 in a research report on Thursday, October 20th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $191.00 to $171.50 in a research report on Tuesday, October 11th. StockNews.com initiated coverage on shares of The PNC Financial Services Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group upped 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 report on Tuesday, October 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $188.56.
The PNC Financial Services Group Stock Up 1.5 %
PNC stock opened at $161.16 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $65.00 billion, a PE ratio of 12.15, a P/E/G ratio of 2.42 and a beta of 1.16. The PNC Financial Services Group has a 12 month low of $143.52 and a 12 month high of $228.14. The firm has a 50 day simple moving average of $157.36 and a 200 day simple moving average of $160.98.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its earnings results on Friday, October 14th. The financial services provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.69 by $0.09. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $3.75 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis.
Institutional Trading of The PNC Financial Services Group
Several large investors have recently modified their holdings of PNC. West Financial Advisors LLC bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $26,000. ACG Wealth bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $27,000. Standard Family Office LLC bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $30,000. Win Advisors Inc. boosted its holdings in The PNC Financial Services Group by 61.0% in the 2nd quarter. Win Advisors Inc. now owns 198 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 75 shares during the period. Finally, Ten Capital Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group by 587.1% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 213 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 182 shares during the period. 81.89% of the stock is owned by institutional investors.
Insider Transactions at The PNC Financial Services Group
In related news, EVP Michael P. Lyons sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total transaction of $584,360.00. Following the completion of the sale, 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. 0.34% of the stock is currently owned by company insiders.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, November 5th. Stockholders of record on Monday, October 17th were paid a dividend of $1.50 per share. The ex-dividend date was Friday, October 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.25%.
About The PNC Financial Services Group
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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