Q1 2018 EPS Estimates for PNC Financial Services Group Inc Decreased by Oppenheimer (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Equities research analysts at Oppenheimer reduced their Q1 2018 earnings estimates for shares of PNC Financial Services Group in a research note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now forecasts that the financial services provider will earn $2.28 per share for the quarter, down from their previous forecast of $2.32. Oppenheimer 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.

A number of other research analysts have also recently issued reports on the stock. Argus lifted their price target on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Co set a $157.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research report on Friday, January 12th. ValuEngine cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, 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. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $144.02.

Shares of PNC Financial Services Group (PNC) traded up $0.76 during midday trading on Wednesday, reaching $154.47. 1,380,681 shares of the company were exchanged, compared to its average volume of 2,613,542. PNC Financial Services Group has a one year low of $115.04 and a one year high of $154.93. The stock has a market cap of $73,140.00, a PE ratio of 14.81, a P/E/G ratio of 1.47 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94.

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, topping the Thomson Reuters’ 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 firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the company posted $1.97 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year.

A number of large investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in PNC Financial Services Group by 259.9% during the fourth quarter. State of Alaska Department of Revenue now owns 56,197 shares of the financial services provider’s stock valued at $8,107,000 after purchasing an additional 40,582 shares in the last quarter. Oakbrook Investments LLC lifted its holdings in PNC Financial Services Group by 5.9% during the fourth quarter. Oakbrook Investments LLC now owns 34,300 shares of the financial services provider’s stock valued at $4,949,000 after purchasing an additional 1,900 shares in the last quarter. Anderson Hoagland & Co. lifted its holdings in PNC Financial Services Group by 5.9% during the fourth quarter. Anderson Hoagland & Co. now owns 18,720 shares of the financial services provider’s stock valued at $2,701,000 after purchasing an additional 1,040 shares in the last quarter. Cullinan Associates Inc. lifted its holdings in PNC Financial Services Group by 11.3% during the fourth quarter. Cullinan Associates Inc. now owns 31,580 shares of the financial services provider’s stock valued at $4,557,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in PNC Financial Services Group by 11.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,878,104 shares of the financial services provider’s stock valued at $270,992,000 after purchasing an additional 193,195 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the transaction, the insider now owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlando C. Esposito sold 4,505 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $138.85, for a total transaction of $625,519.25. The disclosure for this sale can be found here. Insiders have sold 103,523 shares of company stock valued at $14,717,168 over the last 90 days. 0.43% of the stock is currently owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.94%. PNC Financial Services Group’s dividend payout ratio (DPR) is 28.76%.

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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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