The PNC Financial Services Group, Inc. (NYSE:PNC) Given Average Rating of “Hold” by Brokerages

The PNC Financial Services Group, Inc. (NYSE:PNC) has received a consensus rating of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $202.56.

Several analysts have recently commented on PNC shares. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens lifted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares in the company, valued at $104,052,553.99. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock worth $6,155,103 in the last quarter. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $326,000. Concurrent Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 13.9% during the second quarter. Concurrent Investment Advisors LLC now owns 4,404 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 539 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in The PNC Financial Services Group by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 187,036 shares of the financial services provider’s stock valued at $29,080,000 after purchasing an additional 3,200 shares in the last quarter. Van ECK Associates Corp raised its holdings in The PNC Financial Services Group by 8.4% during the second quarter. Van ECK Associates Corp now owns 83,404 shares of the financial services provider’s stock worth $12,968,000 after purchasing an additional 6,437 shares in the last quarter. Finally, Graypoint LLC lifted its position in shares of The PNC Financial Services Group by 6.6% during the 2nd quarter. Graypoint LLC now owns 2,552 shares of the financial services provider’s stock worth $397,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $195.35 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average is $201.08 and its two-hundred day moving average is $184.87. The firm has a market capitalization of $77.51 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.28%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.