Jefferies Financial Group Equities Analysts Lift Earnings Estimates for The PNC Financial Services Group, Inc. (NYSE:PNC)


The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) – Equities research analysts at Jefferies Financial Group raised their Q3 2022 earnings per share estimates for shares of The PNC Financial Services Group in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $4.04 for the quarter, up from their prior estimate of $3.75.

Several other analysts also recently weighed in on the company. Barclays raised The PNC Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $220.00 to $250.00 in a report on Monday, January 3rd. Raymond James cut their target price on The PNC Financial Services Group from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, April 6th. StockNews.com began coverage on The PNC Financial Services Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler lowered their target price on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. Finally, Argus raised their price objective on The PNC Financial Services Group from $220.00 to $245.00 in a report on Wednesday, January 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $219.32.

NYSE:PNC opened at $178.44 on Tuesday. The stock has a 50-day simple moving average of $193.35 and a 200-day simple moving average of $201.44. The stock has a market cap of $74.67 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.80 and a beta of 1.26. The PNC Financial Services Group has a 1 year low of $170.14 and a 1 year high of $228.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.78 and a current ratio of 0.78.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its earnings results on Tuesday, January 18th. The financial services provider reported $3.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.61 by $0.07. The PNC Financial Services Group had a return on equity of 12.86% and a net margin of 28.81%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm posted $3.26 EPS.

Institutional investors have recently added to or reduced their stakes in the company. Payden & Rygel bought a new stake in The PNC Financial Services Group in the 1st quarter valued at about $22,263,000. CNB Bank increased its position in The PNC Financial Services Group by 10.0% during the 1st quarter. CNB Bank now owns 1,468 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 134 shares in the last quarter. LVM Capital Management Ltd. MI increased its position in The PNC Financial Services Group by 5.4% during the 1st quarter. LVM Capital Management Ltd. MI now owns 3,818 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 195 shares in the last quarter. Baldwin Brothers LLC MA increased its position in The PNC Financial Services Group by 23.3% in the 1st quarter. Baldwin Brothers LLC MA now owns 83,274 shares of the financial services provider’s stock valued at $15,360,000 after acquiring an additional 15,748 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $538,000. Institutional investors own 82.59% of the company’s stock.

In other The PNC Financial Services Group news, EVP Michael P. Lyons sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $182.59, for a total value of $1,004,245.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 5th. Stockholders of record on Wednesday, April 13th will be issued a dividend of $1.50 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, April 12th. This represents a $6.00 annualized dividend and a dividend yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.40%.

About The PNC Financial Services Group (Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Earnings History and Estimates for The PNC Financial Services Group (NYSE:PNC)



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