PNC reports third quarter profit increase

In looking at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $1.73. The shares closed down 0.02 points or 0.04% at $46.86 with 1,521,161 shares getting traded.

Lower net interest income and noninterest income drove the revenue decline. PNC Financial Services Group has a 52-week low of $76.69 and a 52-week high of $100.52.

Hartford Financial Services Group Inc (NYSE:HIG) has a one year consensus target of $50.36 according to Thomson Reuters. Pnc Financial Services Group Reported earnings before interest, taxes, debt and amortization (EBITDA) is 0.00.

The company shares have rallied 32.17% in the past 52 Weeks. The stock has a 50 day moving average price of $45.77 and a 200 day moving average price of $44.14. Of the 13 analysts who have issued estimates, the most bullish sees the stock reaching $33 within the next 12 months while the most conservative sees the stock at $25 within the year.

“PNC had a solid third quarter, our tenth consecutive quarter of $1 billion or more in net income, reflecting consistency without the benefit of higher interest rates”, said William S. Demchak, chairman, president and chief executive officer.

Pnc Financial Services Group (NYSE:PNC) shares will open today at 92.32 after closing yesterday at 89.82.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th.

Other research analysts have also recently issued research reports about the company. (The) (NYSE:PNC) appreciated by 1.88% during the past week but lost 0.59% on a 4-week basis. Revenue at the Pittsburgh-based bank, which has a network of about 2,660 branches, slipped 1.7% to $3.78 billion. Zacks raised Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, June 19th. Credit Suisse increased their target price on Hartford Financial Services Group from $46.00 to $49.00 in a report on Thursday, July 2nd. The ex-dividend date is Tuesday, October 13th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Zacks cut Hartford Financial Services Group from a buy rating to a hold rating in a report on Tuesday, June 30th.

Hartford Financial Services Group Inc., formerly The Hartford Financial Services Group, Inc., is an insurance and financial services company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, along with a few other products and services in its primary geographical 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: Asset Management Group, Retail Banking, Corporate & Institutional Banking, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.