The PNC Financial Services Group, Inc (NYSE:PNC) Receives $234.44 Consensus PT from Brokerages

The PNC Financial Services Group, Inc (NYSE:PNC) has been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $234.4444.

A number of brokerages have issued reports on PNC. TD Cowen boosted their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Wells Fargo & Company lifted their target price on 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 increased their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th.

Insiders Place Their Bets

In related news, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares in the company, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions 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 position in The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. Corient Private Wealth LLC boosted its stake in The PNC Financial Services Group by 961.7% in 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 buying an additional 2,382,552 shares in the last quarter. Deutsche Bank AG grew its position 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 valued at $800,884,000 after acquiring an additional 1,994,431 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 134.9% during the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after acquiring an additional 1,917,530 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 2.9%

Shares of PNC opened at $206.26 on Friday. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The business has a 50-day moving average of $222.17 and a 200 day moving average of $205.11. The firm has a market cap of $83.20 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued 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 PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $3.77 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.