The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $221.00

The PNC Financial Services Group (NYSE:PNC) had its price objective lifted by Morgan Stanley from $211.00 to $221.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Evercore ISI raised their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Oppenheimer lifted their price target 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. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $231.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $221.98 on Tuesday. The stock has a market capitalization of $87.05 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.94 and a beta of 0.99. The firm’s 50-day moving average price is $205.70 and its two-hundred day moving average price is $198.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $227.78.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The PNC Financial Services Group’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.77 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PNC. Quarry LP purchased a new stake in The PNC Financial Services Group in the third quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $27,000. Concord Wealth Partners lifted its holdings in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $34,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $35,000. 83.53% of the stock is owned by hedge funds and other 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.