Todays Report: The PNC Financial Services Group Inc. to Post FY2016 Earnings of $7.09 Per Share, Oppenheimer Holdings Forecasts (PNC)

The PNC Financial Services Group Inc. to Post FY2016 Earnings of $7.09 Per Share, Oppenheimer Holdings Forecasts (PNC)

PNC Financial Services Group Inc. (NYSE:PNC) – Analysts at Oppenheimer Holdings boosted their FY2016 earnings per share estimates for shares of PNC Financial Services Group in a research report issued to clients and investors on Tuesday. Oppenheimer Holdings analyst B. Chittenden now forecasts that the firm will post earnings per share of $7.09 for the year, up from their previous estimate of $7.04. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for PNC Financial Services Group’s Q4 2016 earnings at $1.78 EPS and FY2017 earnings at $7.03 EPS.

PNC has been the topic of several other research reports. Zacks Investment Research cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Thursday. Vetr raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $94.63 target price on the stock in a research note on Wednesday. Barclays PLC reaffirmed a “hold” rating and set a $97.00 target price on shares of PNC Financial Services Group in a research note on Tuesday. Nomura cut shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. raised shares of PNC Financial Services Group from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $96.65.

PNC Financial Services Group (NYSE:PNC) traded down 2.17% on Thursday, hitting $87.88. 1,976,602 shares of the stock were exchanged. The stock’s 50 day moving average price is $89.68 and its 200 day moving average price is $86.15. The firm has a market cap of $43.19 billion, a PE ratio of 12.12 and a beta of 0.91. PNC Financial Services Group has a 52-week low of $77.40 and a 52-week high of $97.50.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, July 15th. The company reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. The firm had revenue of $3.79 billion for the quarter. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share.

Institutional investors have recently made changes to their positions in the company. Dalton Greiner Hartman Maher & Co. increased its position in shares of PNC Financial Services Group by 4.1% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 129,208 shares of the company’s stock worth $11,640,000 after buying an additional 5,103 shares in the last quarter. Genesee Valley Trust Co. increased its position in shares of PNC Financial Services Group by 25.6% in the third quarter. Genesee Valley Trust Co. now owns 9,964 shares of the company’s stock worth $898,000 after buying an additional 2,029 shares during the period. Capstone Asset Management Co. increased its position in shares of PNC Financial Services Group by 1.2% in the third quarter. Capstone Asset Management Co. now owns 42,485 shares of the company’s stock worth $3,827,000 after buying an additional 487 shares during the period. Carl Domino Inc acquired a new position in shares of PNC Financial Services Group during the third quarter worth about $213,000. Finally, Perkins Coie Trust Co increased its position in shares of PNC Financial Services Group by 5.5% in the third quarter. Perkins Coie Trust Co now owns 23,307 shares of the company’s stock worth $2,100,000 after buying an additional 1,211 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael J. Hannon sold 33,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the completion of the transaction, the insider now directly owns 87,573 shares of the company’s stock, valued at $7,574,188.77. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Hesse acquired 500 shares of the stock in a transaction dated Thursday, July 21st. The shares were bought at an average cost of $82.44 per share, with a total value of $41,220.00. Following the completion of the transaction, the director now owns 1,100 shares of the company’s stock, valued at approximately $90,684. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Monday, October 17th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 13th. PNC Financial Services Group’s dividend payout ratio is presently 30.26%.

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