EPS of $3.21 expected for The PNC Financial Services Group, Inc. (NYSE:PNC) this quarter


Stock analysts expect The PNC Financial Services Group, Inc. (New York Stock Exchange: PNCGet a rating) will report earnings per share of $3.21 for the current fiscal quarter, according to Zacks. Seven analysts provided earnings estimates for The PNC Financial Services Group. The highest EPS estimate is $3.88 and the lowest is $2.92. PNC Financial Services Group posted earnings per share of $4.50 in the same quarter last year, suggesting a negative 28.7% year-over-year growth rate. The company is expected to announce its next results before the market opens on Monday, January 1.

On average, analysts expect PNC Financial Services Group to report annual earnings of $14.12 per share for the current fiscal year, with EPS estimates ranging from $12.90 to $14.65. . For next year, analysts expect the company to post earnings of $16.42 per share, with EPS estimates ranging from $15.34 to $18.59. Zacks’ EPS calculations are an average average based on a survey of sell-side research analysts who provide coverage for financial services group PNC.

The financial services group PNC (New York Stock Exchange: PNCGet a rating) last released its quarterly earnings data on Thursday, April 14. The financial services provider reported earnings per share of $3.29 for the quarter, beating analyst consensus estimates of $2.78 by $0.51. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. The PNC Financial Services group achieved a return on equity of 12.43% and a net margin of 26.14%. The company’s revenue increased 11.2% year over year. In the same quarter last year, the company posted EPS of $4.10.

Several stock analysts have weighed in on the company recently. StockNews.com assumed coverage of the PNC Financial Services Group in a Thursday, March 31 research note. They issued a “holding” rating for the company. Morgan Stanley cut its price target on PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a Monday, March 28 research note. JPMorgan Chase & Co. raised its price target on PNC Financial Services Group from $229.50 to $232.50 in a Thursday, February 3 research note. Piper Sandler cut her price target on PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a Friday, April 1 research note. Finally, Wolfe Research cut its price target on PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst rated the stock with a sell rating, ten issued a hold rating and seven assigned the company a buy rating. Based on data from MarketBeat.com, the PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $215.67.

Shares of The action of the PNC Financial Services group opened at $175.05 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt ratio of 0.54. PNC Financial Services Group has a 12-month low of $152.35 and a 12-month high of $228.14. The company has a 50-day moving average price of $174.56 and a 200-day moving average price of $193.01. The company has a market capitalization of $72.40 billion, a PE ratio of 14.81, a P/E/G ratio of 2.16 and a beta of 1.24.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5. Shareholders of record on Wednesday, April 13 received a dividend of $1.50 per share. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents an annualized dividend of $6.00 and a dividend yield of 3.43%. The ex-dividend date was Tuesday, April 12. The payout ratio of PNC Financial Services Group is currently 50.76%.

In related news, EVP Deborah Guild sold 1,257 shares of the company in a transaction that took place on Tuesday, May 3. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the transaction, the executive vice president now directly owns 23,360 shares of the company, valued at $3,984,281.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Additionally, director Robert A. Niblock acquired 2,000 shares of the company in a transaction that took place on Friday, May 6. The shares were acquired at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the acquisition, the administrator now directly owns 6,063 shares of the company, valued at approximately $1,012,945.41. Disclosure of this purchase can be found here. Insiders own 0.34% of the shares of the company.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Walleye Capital LLC increased its stake in The PNC Financial Services Group by 74.9% during the first quarter. Walleye Capital LLC now owns 56,105 shares of the financial services provider worth $10,349,000 after buying an additional 24,025 shares last quarter. Midwest Wealth Management Inc. increased its stake in The PNC Financial Services Group by 6.7% during the first quarter. Midwest Wealth Management Inc. now owns 9,347 shares of the financial services provider worth $1,724,000 after buying 591 additional shares last quarter. EverSource Wealth Advisors LLC increased its stake in The PNC Financial Services Group by 8.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,204 shares of the financial services provider worth $221,000 after buying 91 additional shares in the last quarter. Reynolds Investment Management Inc. acquired a new position in The PNC Financial Services Group during the first quarter worth $201,000. Finally, Advisory Services Network LLC increased its position in shares of The PNC Financial Services Group by 17.3% during the first quarter. Advisory Services Network LLC now owns 13,993 shares of the financial services provider worth $2,581,000 after acquiring an additional 2,068 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s shares.

PNC Financial Services Group Company Profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Earnings history and estimates for PNC Financial Services Group (NYSE:PNC)



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