Equities research analysts predict that PNC Financial Services Group, Inc. (The) (NYSE:PNC) will report $4.09 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for PNC Financial Services Group, Inc. (The)’s earnings, with the highest sales estimate coming in at $4.15 billion and the lowest estimate coming in at $4.06 billion. PNC Financial Services Group, Inc. (The) posted sales of $3.83 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The company is scheduled to announce its next earnings results on Friday, October 13th.

On average, analysts expect that PNC Financial Services Group, Inc. (The) will report full-year sales of $4.09 billion for the current fiscal year, with estimates ranging from $16.08 billion to $16.41 billion. For the next fiscal year, analysts anticipate that the business will post sales of $17.03 billion per share, with estimates ranging from $16.69 billion to $17.70 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow PNC Financial Services Group, Inc. (The).

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 earnings per share.

PNC has been the subject of a number of research analyst reports. Hilliard Lyons raised PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $123.00 in a report on Monday, April 17th. Rafferty Capital Markets lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a research report on Monday, April 17th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, April 17th. Piper Jaffray Companies reduced their price objective on PNC Financial Services Group, Inc. (The) from $136.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 18th. Finally, Instinet boosted their price objective on PNC Financial Services Group, Inc. (The) from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. PNC Financial Services Group, Inc. (The) presently has a consensus rating of “Hold” and a consensus price target of $122.57.

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In other news, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the transaction, the insider now directly owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. raised its position in PNC Financial Services Group, Inc. (The) by 2.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,868 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 314 shares in the last quarter. Parametrica Management Ltd acquired a new position in PNC Financial Services Group, Inc. (The) during the first quarter valued at about $444,000. Inverness Counsel LLC NY raised its position in PNC Financial Services Group, Inc. (The) by 1.6% in the first quarter. Inverness Counsel LLC NY now owns 228,228 shares of the financial services provider’s stock valued at $26,474,000 after buying an additional 3,685 shares in the last quarter. Private Trust Co. NA raised its position in PNC Financial Services Group, Inc. (The) by 1.7% in the first quarter. Private Trust Co. NA now owns 11,455 shares of the financial services provider’s stock valued at $1,377,000 after buying an additional 192 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc raised its position in PNC Financial Services Group, Inc. (The) by 11.2% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $309,000 after buying an additional 259 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded down 1.87% during mid-day trading on Thursday, hitting $129.27. The stock had a trading volume of 1,855,796 shares. The stock has a 50 day moving average price of $126.80 and a 200 day moving average price of $123.18. PNC Financial Services Group, Inc. has a 52 week low of $84.60 and a 52 week high of $133.26. The firm has a market cap of $61.95 billion, a PE ratio of 16.45 and a beta of 0.93.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 2.28%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

PNC Financial Services Group, Inc. (The) 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.

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Earnings History and Estimates for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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