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

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $234.4444.

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. raised their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Finally, Truist Financial boosted their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th.

Insider Activity

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. The trade was a 79.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $25,000. Quarry LP bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, EFG International AG bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $33,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 4.9%

NYSE PNC opened at $211.85 on Friday. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $243.94. The stock has a market capitalization of $85.46 billion, a PE ratio of 12.77, a PEG ratio of 0.89 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $222.28 and its 200 day moving average is $204.44.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the firm earned $3.77 EPS. The company’s quarterly 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 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

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.