The PNC Financial Services Group, Inc (NYSE:PNC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $212.76.

A number of equities research analysts have weighed in on the company. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a “buy” rating and a $233.00 target price on the stock. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president owned 20,490 shares of the company’s stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,545 shares of company stock valued at $1,590,080. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Naples Global Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at $203,000. Pure Financial Advisors LLC increased its position in shares of The PNC Financial Services Group by 6.5% during the second quarter. Pure Financial Advisors LLC now owns 4,523 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 276 shares in the last quarter. RKL Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 16.0% during the second quarter. RKL Wealth Management LLC now owns 4,128 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 569 shares in the last quarter. Woodward Diversified Capital LLC increased its position in shares of The PNC Financial Services Group by 76.6% during the second quarter. Woodward Diversified Capital LLC now owns 3,795 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 1,646 shares in the last quarter. Finally, Community Financial Services Group LLC grew its holdings in shares of The PNC Financial Services Group by 1.2% during the second quarter. Community Financial Services Group LLC now owns 37,588 shares of the financial services provider’s stock worth $7,007,000 after buying an additional 453 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $196.54 on Friday. The stock has a 50 day moving average price of $182.39 and a 200-day moving average price of $180.29. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.80. The stock has a market cap of $77.75 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The PNC Financial Services Group’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.39 EPS. Equities analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.02%.

The PNC Financial Services Group Company Profile

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.