Equities Analysts Issue Forecasts for PNC Financial Services Group Inc’s Q3 2018 Earnings (PNC)

PNC Financial Services Group Inc (NYSE:PNC) – Equities research analysts at Oppenheimer lowered their Q3 2018 earnings per share (EPS) estimates for shares of PNC Financial Services Group in a report released on Monday, April 16th. Oppenheimer analyst C. Kotowski now expects that the financial services provider will post earnings of $2.67 per share for the quarter, down from their prior 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 brokerages have also recently weighed in on PNC. Keefe, Bruyette & Woods restated a “hold” rating and set a $162.00 target price on shares of PNC Financial Services Group in a report on Friday, December 29th. Morgan Stanley raised 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. Goldman Sachs lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Bank of America raised their price objective on shares of PNC Financial Services Group from $160.00 to $166.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $150.00 price objective on shares of PNC Financial Services Group in a research note on Friday, January 5th. Nineteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $149.26.



Shares of NYSE:PNC opened at $144.26 on Thursday. The company has a market cap of $66,428.23, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.33 and a beta of 0.91. PNC Financial Services Group has a 1-year low of $115.66 and a 1-year high of $163.59. The company has a quick ratio of 0.94, 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, April 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.01. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.14 billion. PNC Financial Services Group had a net margin of 29.85% and a return on equity of 9.83%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.96 earnings per share.

Hedge funds have recently added to or reduced their stakes in the business. Community Bank N.A. raised its holdings in shares of PNC Financial Services Group by 75.8% during the 4th quarter. Community Bank N.A. now owns 5,975 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 2,576 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of PNC Financial Services Group by 37.1% during the 4th quarter. Lazard Asset Management LLC now owns 229,404 shares of the financial services provider’s stock valued at $33,100,000 after purchasing an additional 62,048 shares in the last quarter. Millennium Management LLC raised its holdings in shares of PNC Financial Services Group by 537.7% during the 4th quarter. Millennium Management LLC now owns 292,243 shares of the financial services provider’s stock valued at $42,168,000 after purchasing an additional 246,414 shares in the last quarter. Washington Trust Bank raised its holdings in shares of PNC Financial Services Group by 2.9% during the 4th quarter. Washington Trust Bank now owns 54,958 shares of the financial services provider’s stock valued at $7,930,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Fragasso Group Inc. raised its holdings in shares of PNC Financial Services Group by 11.3% during the 4th quarter. Fragasso Group Inc. now owns 16,230 shares of the financial services provider’s stock valued at $2,342,000 after purchasing an additional 1,644 shares in the last quarter. Institutional investors own 82.26% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 5th. Shareholders of record on Monday, April 16th will be given a $0.75 dividend. The ex-dividend date is Friday, April 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.08%. PNC Financial Services Group’s payout ratio is 35.29%.

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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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