The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $281.00 at Oppenheimer

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Oppenheimer from $271.00 to $281.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

PNC has been the topic of several other reports. Truist Financial increased their target price on The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Robert W. Baird increased their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Stephens lifted their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.97.

The PNC Financial Services Group Stock Up 0.4%

NYSE:PNC opened at $255.24 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $232.45 and a 200-day moving average of $223.26. The firm has a market capitalization of $102.50 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The PNC Financial Services Group has a 52 week low of $176.88 and a 52 week high of $256.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $3.85 EPS. The business’s revenue was up 21.4% on a year-over-year basis. Analysts predict that The PNC Financial Services Group will post 18.88 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNC. Trust Asset Management LLC increased its stake in shares of The PNC Financial Services Group by 1.0% during the second quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 43 shares during the period. Wedge Capital Management L L P NC acquired a new stake in The PNC Financial Services Group in the second quarter worth approximately $213,000. Northside Capital Management LLC lifted its position in The PNC Financial Services Group by 1.9% in the second quarter. Northside Capital Management LLC now owns 41,882 shares of the financial services provider’s stock worth $10,312,000 after purchasing an additional 798 shares during the period. Tema ETFs LLC boosted its stake in The PNC Financial Services Group by 9.3% during the 2nd quarter. Tema ETFs LLC now owns 6,821 shares of the financial services provider’s stock valued at $1,679,000 after purchasing an additional 580 shares in the last quarter. Finally, Canvas Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 7.6% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 1,432 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 101 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group News Roundup

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Several firms raised their price targets on PNC after the bank reported better-than-expected Q2 earnings, revenue, and record revenue from stronger capital markets activity and loan growth. Analyst target raise coverage
• Positive Sentiment: Analysts at Wells Fargo, Barclays, Oppenheimer, Robert W. Baird, Argus, RBC, Stephens, and Truist all lifted targets, with several maintaining bullish ratings such as overweight, outperform, and buy, signaling confidence in PNC’s earnings outlook. Analyst target raise coverage
• Positive Sentiment: PNC’s Q2 report showed EPS of $4.85 and revenue of $6.66 billion, both above estimates, while management raised its dividend 18% and forecast 2026 loan growth of about 12.5% and net interest income growth of 15%-15.5%. Reuters article
• Neutral Sentiment: Some commentary noted that expenses are also expected to rise alongside revenue, which could temper margin expansion even as operating momentum remains strong. American Banker article
• Negative Sentiment: Despite the earnings beat, one market reaction item noted shares slipped after the report because higher costs and declining deposits raised some concerns about the sustainability of the growth story. Zacks article

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.