PNC Financial Services Group Inc to Post Q1 2018 Earnings of $2.28 Per Share, Oppenheimer Forecasts (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Oppenheimer issued their Q1 2018 earnings per share estimates for PNC Financial Services Group in a note issued to investors on Tuesday. Oppenheimer analyst C. Kotowski expects that the financial services provider will earn $2.28 per share for the quarter. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for PNC Financial Services Group’s Q2 2018 earnings at $2.58 EPS, Q3 2018 earnings at $2.64 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $10.30 EPS and FY2019 earnings at $11.67 EPS.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. PNC Financial Services Group’s revenue for the quarter was up 10.0% compared to the same quarter last year.

PNC has been the topic of a number of other research reports. Wells Fargo & Co set a $135.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $162.00 price target on shares of PNC Financial Services Group in a research report on Friday, December 22nd. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, December 26th. Credit Suisse Group reissued a “hold” rating and set a $150.00 price target on shares of PNC Financial Services Group in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of PNC Financial Services Group from $139.50 to $140.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $145.98.

PNC Financial Services Group (NYSE PNC) opened at $159.86 on Friday. PNC Financial Services Group has a 1 year low of $115.25 and a 1 year high of $160.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $74,861.71, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.88%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

In other news, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,894 shares of company stock worth $14,897,513. Insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PNC. Truewealth LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $107,000. Atlantic Trust LLC acquired a new stake in shares of PNC Financial Services Group during the second quarter worth $129,000. Crewe Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $134,000. Legacy Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the third quarter worth $136,000. Finally, Resources Investment Advisors Inc. lifted its holdings in shares of PNC Financial Services Group by 130.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 600 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

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About PNC Financial Services Group

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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