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

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $243.1111.

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Truist Financial lifted their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Barclays lifted their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Bank of America lifted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on 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 completion of the sale, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in PNC. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $1,967,080,000. Viking Global Investors LP lifted its stake in The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after purchasing an additional 5,581,102 shares during the last quarter. Corient Private Wealth LLC lifted its stake in The PNC Financial Services Group by 961.7% during the fourth quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after purchasing an additional 2,382,552 shares during the last quarter. Deutsche Bank AG lifted its stake in The PNC Financial Services Group by 108.2% during the fourth quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock worth $800,884,000 after purchasing an additional 1,994,431 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock worth $700,305,000 after purchasing an additional 1,162,964 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $227.02 on Tuesday. The PNC Financial Services Group has a one year low of $172.73 and a one year high of $243.94. The business has a fifty day moving average price of $218.55 and a 200-day moving average price of $214.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $91.17 billion, a P/E ratio of 13.19, a PEG ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company earned $3.51 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

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.