PNC Financial Services Group (PNC) Releases Quarterly Earnings Results
PNC Financial Services Group (NYSE:PNC) posted its quarterly earnings results on Friday. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09, Bloomberg Earnings reports. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 earnings per share.
PNC Financial Services Group (NYSE PNC) opened at $151.84 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. PNC Financial Services Group has a fifty-two week low of $113.66 and a fifty-two week high of $153.50. The company has a market cap of $72,245.63, a price-to-earnings ratio of 14.60, a PEG ratio of 1.51 and a beta of 0.90.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 17.79%.
In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the transaction, the insider now owns 103,299 shares in the company, valued at $15,031,037.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,523 shares of company stock worth $15,392,168. 0.43% of the stock is currently owned by corporate insiders.
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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.
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