PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) has earned an average recommendation of “Hold” from the twenty-two rating agencies that currently cover the company, Marketbeat Ratings reports. One equity research analyst rated the stock with a sell recommendation, eleven gave the company a hold recommendation and seven gave the company a buy recommendation. The 12-month average target price among analysts who have covered the stock over the past year is $219.53.
Several brokerages have recently weighed in on PNC. Piper Sandler cut her price target on PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a Friday, April 1 report. Barclays upgraded PNC Financial Services Group from a ‘weighted’ to an ‘overweight’ rating and raised its price target for the company from $220.00 to $250.00 in a Monday research report January 3. Argus lowered its price target on PNC Financial Services Group from $245.00 to $220.00 in a Monday, April 18 research report. Morgan Stanley lowered its price target on PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a Monday, March 28 research report. Finally, Robert W. Baird raised his price target on PNC Financial Services Group from $200.00 to $230.00 in a research report on Wednesday, January 19.
In other news, Executive Vice President Michael P. Lyons sold 5,500 shares of the company in a trade that took place on Monday, March 14. The stock was sold at an average price of $182.59, for a total transaction of $1,004,245.00. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 0.34% of the shares are held by insiders.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Waycross Partners LLC increased its position in shares of The PNC Financial Services Group by 5.1% during the first quarter. Waycross Partners LLC now owns 23,910 shares of the financial services provider valued at $4,410,000 after buying an additional 1,161 shares last quarter. The Illinois Municipal Retirement Fund increased its position in shares of PNC Financial Services Group by 68.4% during the first quarter. The Illinois Municipal Retirement Fund now owns 52,339 shares of the financial services provider worth $9,654,000 after purchasing an additional 21,259 shares last quarter. SG Americas Securities LLC increased its position in shares of The PNC Financial Services Group by 84.8% during the first quarter. SG Americas Securities LLC now owns 21,249 shares of the financial services provider valued at $3,919,000 after purchasing an additional 9,748 shares last quarter. McDonald Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $574,000. Finally, Park Avenue Securities LLC increased its position in shares of The PNC Financial Services Group by 8.4% during the first quarter. Park Avenue Securities LLC now owns 7,926 shares of the financial services provider valued at $1,462,000 after buying 611 additional shares last quarter. Institutional investors hold 82.59% of the company’s shares.
Shares of PNC opened at $166.10 on Friday. The company has a 50-day moving average of $185.34 and a 200-day moving average of $199.26. The PNC Financial Services Group has a fifty-two week low of $165.59 and a fifty-two week high of $228.14. The company has a market capitalization of $69.50 billion, a P/E ratio of 14.05, a price-to-earnings growth ratio of 2.38 and a beta of 1.26. The company has a debt ratio of 0.54, a quick ratio of 0.78 and a current ratio of 0.75.
PNC Financial Services Group (NYSE:PNC – Get Rating) last reported quarterly earnings data on Thursday, April 14. The financial services provider reported earnings per share of $3.23 for the quarter, beating the consensus estimate of $2.78 by $0.45. The PNC Financial Services group achieved a return on equity of 12.43% and a net margin of 26.14%. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. During the same quarter last year, the company posted EPS of $4.10. The company’s revenue for the quarter increased 11.2% on an annual basis. As a group, research analysts predict that PNC Financial Services Group will post earnings per share of 14.05 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 5. Shareholders of record on Wednesday, April 13 will receive a dividend of $1.50. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents a dividend of $6.00 on an annualized basis and a yield of 3.61%. The ex-dividend date is Tuesday, April 12. The payout ratio of PNC Financial Services Group is 50.76%.
PNC Financial Services Group Company Profile (Get an assessment)
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.
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