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.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.01. PNC Financial Services Group had a return on equity of 9.82% and a net margin of 29.85%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm posted $1.96 EPS. PNC Financial Services Group’s revenue was up 5.8% compared to the same quarter last year. analysts expect that PNC Financial Services Group will post 10.52 earnings per share for the current year.

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.

Dividend History for PNC Financial Services Group (NYSE:PNC)

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