PNC Financial Services Group (PNC) is expected to pay dividends on May 05, 2023. As per the announcement, the company will pay a dividend of $1.5 per share with a record date of May 05, 2023, and an ex-dividend date of April 17, 2023. This means that shareholders who own the stock before the ex-dividend date are eligible to receive the dividend payment, whereas those who purchase the stock on or after the ex-dividend date will not be eligible for the upcoming dividend payment.
It is worth noting that the last dividend of $1.5 was paid on February 05, 2023, which indicates that the company is maintaining a consistent dividend payout schedule. Investors who are interested in receiving the dividend should consider purchasing the stock before the ex-dividend date to avoid missing out on the payment.
Turning to PNC's recent earnings results, the company reported strong fourth-quarter earnings for 2022, driven by growth in its loan and deposit balances. PNC's revenue for the quarter was $5.5 billion, up from $4.2 billion in the same quarter the previous year. The company's net income for the quarter was $1.4 billion, up from $1.1 billion in the same quarter the previous year. The earnings per share for the quarter were $3.47, up from $2.75 in the same quarter the previous year.
However, despite the strong earnings results, PNC's 50-day moving average crossed bearishly below its 200-day moving average on March 13, 2023. This is a long-term bearish signal for the stock as the stock shifts to a downward trend. The bearish crossover suggests that the stock may continue to face selling pressure in the near term, which could impact the stock's price and valuation.
PNC Financial Services Group is expected to pay dividends on May 05, 2023, and investors should consider purchasing the stock before the ex-dividend date to be eligible for the payment. However, investors should also be aware of the recent bearish crossover in PNC's moving averages, which suggests a potential downward trend for the stock in the near term. As with any investment decision, investors should conduct their own research and analysis before making any decisions.