The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. This segment serves consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. Its Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services, and access to online/mobile information management and reporting; foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The company's Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services for ultra high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients. The company has 2,591 branches and 9,502 ATMs. The company was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania.
The PNC Financial Services Group Stock Performance
NYSE:PNC opened at $173.50 on Friday. The stock has a market cap of $71.16 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.21. The PNC Financial Services Group has a fifty-two week low of $146.39 and a fifty-two week high of $228.14. The firm's fifty day simple moving average is $161.67 and its 200-day simple moving average is $175.60. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.75.
The PNC Financial Services Group (NYSE:PNC - Get Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.31. The firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm's revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.50 EPS. Analysts expect that The PNC Financial Services Group will post 14.46 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were issued a $1.50 dividend. The ex-dividend date was Tuesday, July 12th. This represents a $6.00 annualized dividend and a yield of 3.46%. The PNC Financial Services Group's payout ratio is 46.95%.
Wall Street Analyst Weigh In
PNC has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price objective on shares of The PNC Financial Services Group from $188.00 to $156.00 in a research report on Monday, July 11th. Barclays reduced their price target on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an "overweight" rating for the company in a research report on Monday, July 18th. Piper Sandler set a $160.00 price target on shares of The PNC Financial Services Group in a research report on Tuesday, July 19th. Credit Suisse Group reduced their price target on shares of The PNC Financial Services Group from $172.00 to $170.00 and set a "neutral" rating for the company in a research report on Monday, July 18th. Finally, Raymond James downgraded shares of The PNC Financial Services Group from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $197.63.
