The PNC Financial Services Group, Inc. (NYSE:PNC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The PNC Financial Services Group, Inc. (NYSE:PNC) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $203.47.

A number of brokerages recently issued reports on PNC. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Morgan Stanley decreased their price objective on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating on the stock in a research report on Monday. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Truist Financial cut their price target on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating for the company in a research note on Friday, April 4th.

The PNC Financial Services Group Trading Up 6.9 %

Shares of PNC stock opened at $160.10 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $63.36 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a 50-day simple moving average of $180.16 and a two-hundred day simple moving average of $190.61.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now owns 525,071 shares in the company, valued at $103,964,058. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 13,061 shares of company stock worth $2,420,267 in the last three months. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. RFG Advisory LLC bought a new position in The PNC Financial Services Group in the first quarter worth about $225,000. Merit Financial Group LLC grew its holdings in shares of The PNC Financial Services Group by 59.2% during the 1st quarter. Merit Financial Group LLC now owns 17,760 shares of the financial services provider’s stock worth $3,122,000 after acquiring an additional 6,603 shares during the period. Harbor Investment Advisory LLC raised its position in shares of The PNC Financial Services Group by 12.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 4,928 shares of the financial services provider’s stock worth $866,000 after acquiring an additional 547 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of The PNC Financial Services Group by 126,475.0% in the 1st quarter. NBC Securities Inc. now owns 5,063 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 5,059 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 19.3% during the first quarter. Baker Tilly Wealth Management LLC now owns 1,860 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 301 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.