The PNC Financial Services Group, Inc (NYSE:PNC) Given Consensus 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 twenty-three ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $218.4737.

Several research firms have issued reports on PNC. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Evercore ISI upped their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Citigroup upped their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Morgan Stanley upped their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently made changes to their positions in PNC. Saudi Central Bank bought a new position in The PNC Financial Services Group during the 1st quarter worth $27,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 2nd quarter worth $27,000. Concord Wealth Partners increased its stake in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the period. Cornerstone Planning Group LLC increased its stake in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 65 shares during the period. Finally, WPG Advisers LLC bought a new position in The PNC Financial Services Group during the 1st quarter worth $36,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $186.38 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $197.18 and its two-hundred day moving average price is $185.06. The firm has a market capitalization of $73.40 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.30 and a beta of 1.10. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.49 earnings per share. On average, analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

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.