The PNC Financial Services Group, Inc (NYSE:PNC) Plans Quarterly Dividend of $2.00

Key Points

• PNC declared a quarterly dividend of $2.00 per share, payable November 5 to shareholders of record on October 14. The dividend equates to $8.00 annually and a 3.6% yield.
• PNC has raised its dividend for 14 consecutive years, with a current payout ratio of 46.5%, indicating the dividend is supported by earnings.
• The company reported quarterly EPS of $4.85, exceeding analyst expectations of $4.46, while revenue rose 21.4% year over year to $6.88 billion.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) announced a quarterly dividend on Friday, October 2nd. Investors of record on Wednesday, October 14th will be given a dividend of $2.00 per share by the financial services provider on Thursday, November 5th. This represents a $8.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, October 14th.

The PNC Financial Services Group has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. The PNC Financial Services Group has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect The PNC Financial Services Group to earn $21.30 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 37.6%.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $219.23 on Monday. The company has a 50 day moving average price of $238.89 and a 200-day moving average price of $232.82. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $87.46 billion, a PE ratio of 12.07, a PEG ratio of 1.15 and a beta of 0.94. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $258.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%. The business had revenue of $6.88 billion for the quarter, compared to analysts' expectations of $6.51 billion. During the same quarter last year, the firm earned $3.85 EPS. The business's revenue for the quarter was up 21.4% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Company Profile

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.

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