PNC Financial Services Group Inc (PNC) Declares Dividend Increase – $0.95 Per Share
PNC Financial Services Group Inc (NYSE:PNC) announced a quarterly dividend on Thursday, July 5th, RTT News reports. Investors of record on Tuesday, July 17th will be given a dividend of 0.95 per share by the financial services provider on Sunday, August 5th. This represents a $3.80 annualized dividend and a yield of 2.80%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.75.
PNC Financial Services Group has increased its dividend by an average of 11.4% annually over the last three years and has raised its dividend every year for the last 7 years. PNC Financial Services Group has a dividend payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PNC Financial Services Group to earn $11.58 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 25.9%.
PNC stock opened at $135.58 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.92 and a current ratio of 0.93. PNC Financial Services Group has a 12-month low of $119.77 and a 12-month high of $163.59. The stock has a market capitalization of $63.10 billion, a P/E ratio of 14.97, a PEG ratio of 1.27 and a beta of 0.91.
Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on PNC Financial Services Group from $160.00 to $166.00 and gave the stock a “buy” rating in a report on Tuesday, March 13th. Susquehanna Bancshares set a $147.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, April 10th. Nineteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $150.13.
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.
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