PNC Financial Services Group Inc (NYSE:PNC) announced a quarterly dividend on Tuesday, June 30th, RTT News reports. Shareholders of record on Friday, July 17th will be given a dividend of 1.15 per share by the financial services provider on Wednesday, August 5th. This represents a $4.60 annualized dividend and a yield of 4.38%.
PNC Financial Services Group has increased its dividend payment by an average of 150.0% per year over the last three years and has increased its dividend every year for the last 9 years. PNC Financial Services Group has a dividend payout ratio of 80.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect PNC Financial Services Group to earn $7.54 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 61.0%.
PNC stock traded up $2.29 during trading on Tuesday, reaching $105.12. The stock had a trading volume of 58,304 shares, compared to its average volume of 3,370,574. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 2.59 and a beta of 1.29. PNC Financial Services Group has a one year low of $79.41 and a one year high of $161.79. The company's 50 day moving average is $109.34 and its two-hundred day moving average is $124.95.
PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.71 by $0.24. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.39 billion. PNC Financial Services Group had a net margin of 23.23% and a return on equity of 10.16%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.61 EPS. As a group, research analysts predict that PNC Financial Services Group will post 5.57 earnings per share for the current fiscal year.
In related news, Director Richard J. Harshman purchased 1,000 shares of the business's stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $97.55 per share, for a total transaction of $97,550.00. Following the completion of the purchase, the director now directly owns 1,150 shares of the company's stock, valued at $112,182.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.
PNC has been the subject of several research analyst reports. Nomura Securities raised shares of PNC Financial Services Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $95.00 to $114.00 in a research report on Thursday, April 16th. Oppenheimer reissued a "hold" rating on shares of PNC Financial Services Group in a research report on Sunday, April 19th. Deutsche Bank lowered their price target on shares of PNC Financial Services Group from $155.00 to $108.00 and set a "hold" rating for the company in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods raised shares of PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $136.00 price target for the company in a research report on Wednesday, April 1st. Finally, Citigroup lowered their price target on shares of PNC Financial Services Group from $130.00 to $115.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. The company has a consensus rating of "Hold" and a consensus price target of $129.67.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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