The PNC Financial Services Group, Inc (PNC) To Go Ex-Dividend on July 20th

The PNC Financial Services Group, Inc (NYSE:PNC) announced a quarterly dividend on Monday, July 6th. Shareholders of record on Monday, July 20th will be given a dividend of 2.00 per share by the financial services provider on Wednesday, August 5th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, July 20th. This is a 17.6% increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70.

The PNC Financial Services Group has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. The PNC Financial Services Group has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect The PNC Financial Services Group to earn $21.21 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 37.7%.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $252.88 on Friday. The firm has a market cap of $101.55 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $233.18 and its 200-day moving average is $223.46. The PNC Financial Services Group has a 12-month low of $176.88 and a 12-month high of $256.49.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 earnings per share. Sell-side analysts predict that The PNC Financial Services Group will post 19.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter worth $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $29,000. Financial Life Planners bought a new stake in The PNC Financial Services Group during the first quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC grew its position in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.