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

The PNC Financial Services Group, Inc. (NYSE:PNC) has been assigned an average rating of “Hold” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $205.00.

Several equities analysts have recently commented on PNC shares. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial boosted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 12,420 shares of company stock worth $2,474,722. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $187.90 on Wednesday. The PNC Financial Services Group has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $74.55 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The stock has a 50 day moving average of $196.08 and a 200-day moving average of $191.98.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 earnings per share. On average, analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.