Oppenheimer Analysts Reduce Earnings Estimates for PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Oppenheimer decreased their Q3 2018 earnings per share (EPS) estimates for PNC Financial Services Group in a report released on Monday, April 16th. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will earn $2.67 per share for the quarter, down from their previous forecast of $2.69. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for PNC Financial Services Group’s Q4 2018 earnings at $2.74 EPS, FY2018 earnings at $10.45 EPS and FY2019 earnings at $11.59 EPS.

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A number of other equities research analysts have also weighed in on the stock. Susquehanna Bancshares set a $147.00 target price on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Tuesday, April 10th. Bank of America lifted their target price on shares of PNC Financial Services Group from $160.00 to $166.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Zacks Investment Research lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Morgan Stanley boosted their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Finally, BMO Capital Markets reissued a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, January 25th. Nineteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $149.26.

Shares of PNC opened at $141.66 on Thursday. The stock has a market cap of $66,428.23, a PE ratio of 16.67, a P/E/G ratio of 1.33 and a beta of 0.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 0.94. PNC Financial Services Group has a 1-year low of $115.66 and a 1-year high of $163.59.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, April 13th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.01. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.14 billion. PNC Financial Services Group had a net margin of 29.85% and a return on equity of 9.83%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS.

A number of institutional investors have recently modified their holdings of PNC. Truewealth LLC purchased a new position in PNC Financial Services Group in the fourth quarter worth about $107,000. Crewe Advisors LLC purchased a new position in PNC Financial Services Group in the fourth quarter worth about $134,000. Resources Investment Advisors Inc. raised its holdings in PNC Financial Services Group by 130.7% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after buying an additional 600 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in PNC Financial Services Group in the fourth quarter worth about $157,000. Finally, Avestar Capital LLC purchased a new position in PNC Financial Services Group in the fourth quarter worth about $177,000. 82.26% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 5th. Shareholders of record on Monday, April 16th will be issued a $0.75 dividend. The ex-dividend date is Friday, April 13th. This represents a $3.00 annualized dividend and a yield of 2.12%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 35.29%.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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