The PNC Financial Services Group, Inc. (PNC) to Issue Quarterly Dividend of $1.60 on November 5th

The PNC Financial Services Group, Inc. (NYSE:PNC) declared a quarterly dividend on Thursday, October 3rd, Wall Street Journal reports. Investors of record on Wednesday, October 16th will be paid a dividend of 1.60 per share by the financial services provider on Tuesday, November 5th. This represents a $6.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 16th.

The PNC Financial Services Group has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Analysts expect The PNC Financial Services Group to earn $14.56 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 44.0%.

The PNC Financial Services Group Price Performance

PNC opened at $182.26 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $72.52 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The stock’s 50 day moving average price is $178.13 and its 200-day moving average price is $165.08. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $3.36 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that The PNC Financial Services Group will post 13.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PNC shares. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup upped their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays upped their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $177.65.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,824 shares of company stock valued at $4,580,223 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.