The PNC Financial Services Group, Inc (PNC) To Go Ex-Dividend on January 20th

The PNC Financial Services Group, Inc (NYSE:PNC) declared a quarterly dividend on Monday, January 5th. Shareholders of record on Tuesday, January 20th will be paid a dividend of 1.70 per share by the financial services provider on Thursday, February 5th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, January 20th.

The PNC Financial Services Group has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 14 years. The PNC Financial Services Group has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The PNC Financial Services Group to earn $17.32 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 39.3%.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $218.06 on Wednesday. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $219.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $197.32 and its 200 day simple moving average is $195.62. The stock has a market capitalization of $85.51 billion, a PE ratio of 14.09, a PEG ratio of 1.08 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNC shares. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Truist Financial lifted their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. UBS Group boosted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.11.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.