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

The PNC Financial Services Group, Inc (NYSE:PNC) has received an average recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $234.4444.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective 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. Truist Financial raised their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $211.85 on Friday. The business’s 50-day simple moving average is $222.28 and its two-hundred day simple moving average is $204.44. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $243.94. The stock has a market cap of $85.46 billion, a PE ratio of 12.77, a P/E/G ratio of 0.89 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $3.77 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the sale, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last quarter. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNC. Cvfg LLC lifted its holdings in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after buying an additional 43 shares during the period. YANKCOM Partnership raised its position in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 46 shares in the last quarter. Westfuller Advisors LLC raised its position in shares of The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 46 shares in the last quarter. Atom Investors LP lifted its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 46 shares during the last quarter. Finally, Flavin Financial Services Inc. boosted its position in The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 48 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.