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 earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $234.4444.

PNC has been the topic of several analyst reports. Truist Financial increased their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. upped their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. TD Cowen raised their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Finally, Oppenheimer boosted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $205.79 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. 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 cap of $83.01 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The stock’s 50-day moving average price is $219.51 and its two-hundred day moving average price is $205.11.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the business posted $3.77 EPS. The PNC Financial Services Group’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 in the last quarter. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

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

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.