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

Key Points

• PNC beat quarterly earnings expectations: The bank reported $5.09 in EPS, exceeding analysts’ $4.91 consensus by $0.18. Net margin was 21.41% and return on equity was 12.48%.
• The stock fell 1.9% to $215.39 despite the earnings beat; analysts maintain a “Moderate Buy” consensus with an average price target of $270.11.
• PNC declared a $2.00 quarterly dividend, equal to $8.00 annually and a 3.7% yield, with a 44.03% payout ratio.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating 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%

PNC opened at $215.39 on Thursday. The stock has a market capitalization of $85.93 billion, a PE ratio of 11.85, a P/E/G ratio of 1.15 and a beta of 0.94. The firm's fifty day moving average price is $236.79 and its 200 day moving average price is $233.09. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group has a 12-month low of $176.88 and a 12-month high of $258.96.

The PNC Financial Services Group Dividend Announcement

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

Analyst Ratings Changes

PNC has been the topic of several analyst reports. Barclays lifted their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Royal Bank Of Canada upped their price objective on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. HSBC raised their target price on The PNC Financial Services Group from $275.00 to $283.00 and gave the company a "buy" rating in a research note on Monday, September 28th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $269.50 to $258.00 and set an "overweight" rating for the company in a research note on Friday, October 2nd. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $270.11.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on 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 owned 18,800 shares of the company's stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by insiders.

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.

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