The PNC Financial Services Group, Inc (NYSE:PNC) Receives $241.69 Average PT from Analysts

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $241.6944.

A number of brokerages have commented on PNC. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $251.00 to $237.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th.

The PNC Financial Services Group Trading Down 1.3%

Shares of PNC opened at $225.03 on Monday. The company’s fifty day moving average is $214.99 and its 200 day moving average is $207.13. The PNC Financial Services Group has a fifty-two week low of $156.15 and a fifty-two week high of $243.94. The stock has a market capitalization of $90.77 billion, a PE ratio of 13.08, a P/E/G ratio of 0.95 and a beta of 0.96. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the business earned $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group will post 18.75 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Insider Buying and Selling

In other news, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several large investors have recently modified their holdings of PNC. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $29,000. Kemnay Advisory Services Inc. bought a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, EFG International AG bought a new position in The PNC Financial Services Group in the 4th quarter valued at $33,000. Institutional investors own 83.53% of the company’s stock.

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.