The PNC Financial Services Group (NYSE:PNC) Releases Earnings Results, Beats Expectations By $0.18 EPS

The PNC Financial Services Group (NYSE:PNC) released its quarterly earnings data on Thursday. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18, FiscalAI reports. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%.

The PNC Financial Services Group Trading Down 1.9%

Shares of The PNC Financial Services Group stock opened at $215.39 on Thursday. The business has a fifty day simple moving average of $236.79 and a 200-day simple moving average of $233.09. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $258.96. The firm has a market cap of $85.93 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PNC shares. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. UBS Group dropped their price target on shares of The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Truist Financial reduced their price objective on The PNC Financial Services Group from $264.00 to $252.00 and set a “hold” rating for the company in a research report on Thursday, October 1st. Finally, Stephens increased their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $270.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.