Brokerages forecast that PNC Financial Services Group Inc (NYSE:PNC) will post $4.34 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for PNC Financial Services Group’s earnings, with the highest sales estimate coming in at $4.46 billion and the lowest estimate coming in at $4.25 billion. PNC Financial Services Group reported sales of $4.13 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The company is scheduled to report its next earnings results before the market opens on Friday, October 12th.
According to Zacks, analysts expect that PNC Financial Services Group will report full-year sales of $17.22 billion for the current financial year, with estimates ranging from $17.00 billion to $17.54 billion. For the next fiscal year, analysts forecast that the business will report sales of $18.06 billion per share, with estimates ranging from $17.82 billion to $18.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover PNC Financial Services Group.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.14. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.23 billion.
NYSE:PNC traded down $0.47 during mid-day trading on Tuesday, reaching $143.99. 22,247 shares of the company’s stock traded hands, compared to its average volume of 1,730,659. PNC Financial Services Group has a 12-month low of $130.46 and a 12-month high of $163.59. The company has a market cap of $65.71 billion, a PE ratio of 17.00, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.91 and a quick ratio of 0.90.
In related news, insider Michael J. Hannon sold 5,247 shares of the business’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the transaction, the insider now owns 58,239 shares in the company, valued at approximately $8,233,829.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Q. Reilly sold 24,710 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the transaction, the executive vice president now owns 131,020 shares in the company, valued at approximately $18,406,999.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,957 shares of company stock worth $8,301,859. 0.38% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in PNC. Toronto Dominion Bank grew its holdings in shares of PNC Financial Services Group by 18.2% during the 2nd quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock worth $41,984,000 after acquiring an additional 47,843 shares during the period. Cypress Capital Group grew its stake in shares of PNC Financial Services Group by 32.4% in the 2nd quarter. Cypress Capital Group now owns 5,768 shares of the financial services provider’s stock worth $779,000 after buying an additional 1,410 shares during the last quarter. People s United Financial Inc. grew its stake in shares of PNC Financial Services Group by 22.4% in the 2nd quarter. People s United Financial Inc. now owns 24,663 shares of the financial services provider’s stock worth $3,331,000 after buying an additional 4,507 shares during the last quarter. Tredje AP fonden grew its stake in shares of PNC Financial Services Group by 147.4% in the 2nd quarter. Tredje AP fonden now owns 93,691 shares of the financial services provider’s stock worth $12,658,000 after buying an additional 55,819 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of PNC Financial Services Group in the 2nd quarter worth approximately $74,962,000. Institutional investors own 79.78% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
Featured Story: NASDAQ
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.