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

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $231.00.

Several brokerages recently weighed in on PNC. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Oppenheimer upped their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Truist Financial increased their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $211.00 to $220.00 in a report on Thursday, October 9th.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $233.94 on Wednesday. The PNC Financial Services Group has a twelve month low of $145.12 and a twelve month high of $234.30. The stock’s 50 day moving average is $212.02 and its 200-day moving average is $199.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $91.74 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.95 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter last year, the firm posted $3.77 EPS. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s payout ratio is 40.99%.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $27,000. Concord Wealth Partners boosted its position in The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the third quarter worth about $34,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.