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

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been assigned an average recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $234.4444.

A number of equities analysts have recently commented on PNC shares. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Oppenheimer upped their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Truist Financial increased their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th.

Insider Activity

In related news, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. 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 three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

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

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $205.79 on Thursday. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $243.94. The company’s fifty day simple moving average is $219.51 and its 200-day simple moving average is $205.11. The firm has a market cap of $83.01 billion, a PE ratio of 12.40, a P/E/G ratio of 0.92 and a beta of 0.98. 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 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 during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter last year, the firm earned $3.77 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 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.