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 a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $246.7222.

A number of research analysts have issued reports on PNC shares. Barclays boosted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Stephens started coverage on The PNC Financial Services Group in a report on Monday. They issued an “overweight” rating and a $265.00 price target for the company. Finally, Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target for the company.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of the company’s 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 $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PNC. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $29,000. Financial Life Planners purchased a new position in The PNC Financial Services Group in the 1st quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 3.2%

The PNC Financial Services Group stock opened at $230.01 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group has a 52 week low of $172.88 and a 52 week high of $243.94. The company has a market capitalization of $92.36 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The stock has a 50-day moving average price of $221.21 and a 200 day moving average price of $216.56.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the company posted $3.51 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s payout ratio is presently 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.