The PNC Financial Services Group, Inc (NYSE:PNC) Receives $243.11 Consensus Target Price from Brokerages

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $243.1111.

PNC has been the subject of several analyst reports. Oppenheimer lifted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Truist Financial boosted their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Finally, Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after buying an additional 408,464 shares in the last quarter. State Street Corp raised its holdings in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after buying an additional 77,302 shares in the last quarter. Capital International Investors raised its holdings in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after buying an additional 1,101,055 shares in the last quarter. Norges Bank acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $1,967,080,000. Finally, Geode Capital Management LLC increased its holdings in The PNC Financial Services Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after purchasing an additional 30,078 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $218.54 on Friday. The stock has a market capitalization of $87.76 billion, a PE ratio of 12.70, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The business has a fifty day moving average price of $214.11 and a two-hundred day moving average price of $211.69. The PNC Financial Services Group has a fifty-two week low of $169.32 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.51 EPS. As a group, equities analysts predict that The PNC Financial Services Group will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is 39.51%.

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.