The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $264.00 at Truist Financial

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Truist Financial from $257.00 to $264.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

PNC has been the topic of several other reports. Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup upped their target price on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Royal Bank Of Canada increased their target price on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.97.

The PNC Financial Services Group Stock Up 0.4%

PNC stock opened at $255.24 on Thursday. The stock has a market cap of $102.50 billion, a P/E ratio of 14.05, a PEG ratio of 1.04 and a beta of 0.91. 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 PNC Financial Services Group has a twelve month low of $176.88 and a twelve month high of $256.26. The company’s 50 day moving average is $232.45 and its two-hundred day moving average is $223.26.

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

The PNC Financial Services Group Increases Dividend

The firm also recently announced 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 represents a $8.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,300 shares of company stock worth $10,694,574. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. Empowered Funds LLC grew its position in The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC grew its position in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares during the period. Treasurer of the State of North Carolina grew its position in The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after buying an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in The PNC Financial Services Group in the second quarter valued at about $482,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group News Summary

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

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.