The PNC Financial Services Group, Inc. (NYSE:PNC) – Equities research analysts at Oppenheimer lifted their Q3 2021 EPS estimates for shares of The PNC Financial Services Group in a report issued on Thursday, July 1st. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will post earnings per share of $2.85 for the quarter, up from their prior forecast of $2.84. Oppenheimer also issued estimates for The PNC Financial Services Group’s Q4 2021 earnings at $2.61 EPS and FY2021 earnings at $12.18 EPS. The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a return on equity of 7.54% and a net margin of 47.97%. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year.
Several other research analysts have also recently issued reports on the company. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $169.00 to $183.00 and gave the stock a “hold” rating in a research note on Friday, April 9th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $182.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Wolfe Research upgraded The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $194.00 to $252.00 in a research report on Friday. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $230.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 18th. Finally, Credit Suisse Group lifted their price target on The PNC Financial Services Group from $170.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $182.76.
Shares of NYSE:PNC opened at $192.79 on Monday. The PNC Financial Services Group has a 52-week low of $97.09 and a 52-week high of $203.88. The stock has a market capitalization of $81.91 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.85. The business has a 50-day moving average price of $191.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 5th. Shareholders of record on Friday, July 16th will be issued a $1.25 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 72.33%.
Institutional investors and hedge funds have recently modified their holdings of the business. Vantage Consulting Group Inc acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $27,000. Better Money Decisions LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $28,000. Alpha DNA Investment Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $41,000. Finally, Grant Street Asset Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $43,000. 81.39% of the stock is currently owned by 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. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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