PNC Financial Services Group Inc (PNC) Releases Earnings Results, Beats Expectations By $0.07 EPS

PNC Financial Services Group Inc (PNC) reported quarterly earnings results on Friday, Jul-15-2016. The company said it had a profit of $1.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.75. The company posted revenue of $3794.00 million in the period, compared to analysts expectations of $3826.61 million. The company’s revenue was down -1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Upgraded by Nomura on Jul 7, 2016 to ” Buy” and Lowered the Price Target to $ 84 from a previous price target of $95 .PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 2016.

PNC Financial Services Group Inc closed down -0.24 points or -0.29% at $82.1 with 30,25,853 shares getting traded on Wednesday. Post opening the session at $82.26, the shares hit an intraday low of $81.5 and an intraday high of $82.63 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 4, 2016, Charles E Bunch (director) purchased 1,000 shares at $87.81 per share price. According to the SEC, on Apr 22, 2016, Michael J Hannon (Executive Vice President) sold 12,500 shares at $86.94 per share price. On Feb 10, 2016, Daniel Hesse (director) purchased 500 shares at $81.00 per share price, according to the Form-4 filing with the securities and exchange commission.

The PNC Financial Services Group Inc. is a diversified financial services company in the United States. The Company has businesses engaged in retail banking corporate and institutional banking asset management and residential mortgage banking as well as other products and services in its primary geographic markets located in Pennsylvania Ohio New Jersey Michigan Illinois Maryland Indiana North Carolina Florida Kentucky Washington D.C. Delaware Virginia Alabama Missouri Georgia Wisconsin and South Carolina. The Company operates through six segments: Retail Banking Corporate & Institutional Banking Asset Management Group Residential Mortgage Banking BlackRock and Non-Strategic Assets Portfolio.

PNC Financial Services Group Inc

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