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

The PNC Financial Services Group, Inc (NYSE:PNC) has been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $222.0556.

A number of research analysts have recently commented on the company. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Raymond James Financial upped their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Barclays increased their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, UBS Group boosted their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $217.52 on Friday. The company has a 50 day simple moving average of $199.45 and a two-hundred day simple moving average of $196.18. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $220.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $85.30 billion, a PE ratio of 14.05, a P/E/G ratio of 0.93 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.49 earnings per share. Research 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 business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co. lifted its holdings in shares of The PNC Financial Services Group by 3.7% in the fourth quarter. Diversified Trust Co. now owns 3,929 shares of the financial services provider’s stock valued at $820,000 after purchasing an additional 140 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $205,000. Teamwork Financial Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $13,711,000. Fulton Bank N.A. boosted its holdings in The PNC Financial Services Group by 3.7% in the 4th quarter. Fulton Bank N.A. now owns 24,971 shares of the financial services provider’s stock worth $5,212,000 after acquiring an additional 882 shares during the period. Finally, Regent Peak Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 4.5% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,782 shares of the financial services provider’s stock worth $372,000 after buying an additional 76 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.