The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) declared a quarterly dividend on Wednesday, January 4th, RTT News reports. Shareholders of record on Tuesday, January 17th will be given a dividend of 1.50 per share by the financial services provider on Sunday, February 5th. This represents a $6.00 dividend on an annualized basis and a yield of 3.63%.
The PNC Financial Services Group has raised its dividend by an average of 12.2% annually over the last three years and has raised its dividend every year for the last 10 years. The PNC Financial Services Group has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect The PNC Financial Services Group to earn $15.76 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 38.1%.
The PNC Financial Services Group Stock Up 3.5 %
NYSE PNC traded up $5.56 on Wednesday, hitting $165.08. The stock had a trading volume of 38,991 shares, compared to its average volume of 1,957,138. The PNC Financial Services Group has a 52-week low of $143.52 and a 52-week high of $228.14. The business’s fifty day moving average price is $158.69 and its 200 day moving average price is $159.60. 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 stock has a market cap of $66.58 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.12. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.75 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group will post 14.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
PNC has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $176.00 to $177.00 and gave the stock an “underweight” rating in a research report on Thursday, December 15th. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $191.00 to $171.50 in a research note on Tuesday, October 11th. Citigroup boosted their target price on shares of The PNC Financial Services Group to $180.00 in a research note on Friday, December 2nd. Evercore ISI dropped their price objective on shares of The PNC Financial Services Group to $180.00 in a research note on Thursday, October 20th. Finally, The Goldman Sachs Group increased 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 note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $185.59.
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Guild Deborah sold 2,833 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total transaction of $452,316.78. Following the sale, the executive vice president now directly owns 20,527 shares in the company, valued at approximately $3,277,340.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of PNC. 1832 Asset Management L.P. lifted its stake in shares of The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares during the period. Covestor Ltd raised its position in The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 137 shares during the last quarter. West Family Investments Inc. raised its position in The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 97 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth about $220,000. Finally, KCM Investment Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 7.1% during the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after buying an additional 79 shares in the last quarter. 82.05% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Articles
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.
Source: news.google.com
