Jefferies Group Comments on PNC Financial Services Group Inc’s FY2019 Earnings (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Analysts at Jefferies Group raised their FY2019 earnings per share (EPS) estimates for shares of PNC Financial Services Group in a research note issued on Wednesday, April 4th. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $11.50 for the year, up from their previous forecast of $11.45.

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A number of other equities research analysts have also recently issued reports on PNC. Wells Fargo set a $149.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $162.00 target price on shares of PNC Financial Services Group in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research report on Tuesday, December 26th. Barclays increased their target price on shares of PNC Financial Services Group from $139.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Goldman Sachs cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Nineteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $146.89.

Shares of PNC Financial Services Group stock opened at $147.95 on Thursday. The stock has a market cap of $71,917.53, a P/E ratio of 17.41, a PEG ratio of 1.41 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.14. PNC Financial Services Group has a 12-month low of $115.45 and a 12-month high of $163.59.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.51%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.97 EPS.

Several large investors have recently modified their holdings of PNC. Schroder Investment Management Group acquired a new stake in shares of PNC Financial Services Group during the 3rd quarter worth approximately $7,503,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of PNC Financial Services Group during the 3rd quarter worth approximately $549,000. OxFORD Asset Management LLP grew its position in shares of PNC Financial Services Group by 94.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 27,301 shares of the financial services provider’s stock worth $3,688,000 after buying an additional 13,283 shares during the period. Synovus Financial Corp boosted its stake in PNC Financial Services Group by 10.5% during the 3rd quarter. Synovus Financial Corp now owns 9,466 shares of the financial services provider’s stock worth $1,277,000 after acquiring an additional 901 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in PNC Financial Services Group by 5.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 87,013 shares of the financial services provider’s stock worth $11,727,000 after acquiring an additional 4,220 shares during the last quarter. Institutional investors own 82.24% of the company’s stock.

In other news, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the sale, the insider now owns 58,820 shares in the company, valued at approximately $9,070,044. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 5th. Stockholders of record on Monday, April 16th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, April 13th. PNC Financial Services Group’s dividend payout ratio is 35.29%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Earnings History and Estimates for PNC Financial Services Group (NYSE:PNC)

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