Q1 2018 EPS Estimates for PNC Financial Services Group Inc (PNC) Lowered by Oppenheimer

PNC Financial Services Group Inc (NYSE:PNC) – Oppenheimer cut their Q1 2018 earnings per share estimates for shares of PNC Financial Services Group in a research note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now expects that the financial services provider will post earnings of $2.28 per share for the quarter, down from their previous forecast of $2.32. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for PNC Financial Services Group’s Q2 2018 earnings at $2.58 EPS, Q3 2018 earnings at $2.64 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $10.30 EPS and FY2019 earnings at $11.67 EPS.

Several other equities research analysts also recently weighed in on PNC. Nomura upped their price objective on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Wells Fargo & Co set a $157.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Tuesday. Argus upped their price target on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group in a report on Sunday, October 1st. Finally, Piper Jaffray Companies upped their price target on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Eighteen investment 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 currently has a consensus rating of “Hold” and an average price target of $144.02.

PNC Financial Services Group (PNC) traded up $1.97 during mid-day trading on Wednesday, reaching $154.23. 2,738,500 shares of the company traded hands, compared to its average volume of 2,607,500. The firm has a market capitalization of $73,110.00, a P/E ratio of 14.79, a P/E/G ratio of 1.48 and a beta of 0.90. PNC Financial Services Group has a 1-year low of $113.66 and a 1-year high of $154.93. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.95%. PNC Financial Services Group’s payout ratio is presently 12.46%.

In other PNC Financial Services Group news, insider E William Parsley III sold 46,307 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $143.43, for a total transaction of $6,641,813.01. Following the sale, the insider now owns 132,544 shares in the company, valued at approximately $19,010,785.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the transaction, the insider now owns 20,449 shares in the company, valued at approximately $2,801,104.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,523 shares of company stock worth $14,717,168. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after buying an additional 91 shares during the last quarter. Atlantic Trust LLC acquired a new position in PNC Financial Services Group in the second quarter worth approximately $129,000. Legacy Advisors LLC acquired a new position in PNC Financial Services Group in the third quarter worth approximately $136,000. Quadrant Capital Group LLC increased its holdings in PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Finally, Capital Guardian Trust Co. bought a new stake in PNC Financial Services Group during the third quarter worth approximately $154,000. Institutional investors own 81.54% of the company’s stock.

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PNC Financial Services Group Company Profile

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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