The PNC Financial Services Group, Inc. (NYSE:PNC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

The PNC Financial Services Group, Inc. (NYSE:PNC) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $203.47.

A number of equities research analysts have weighed in on PNC shares. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Morgan Stanley cut their target price on The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now owns 525,071 shares in the company, valued at approximately $103,964,058. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 13,061 shares of company stock worth $2,373,424 over the last 90 days. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. Norges Bank purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $299,864,000. GAMMA Investing LLC grew its holdings in The PNC Financial Services Group by 19,279.5% in the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider’s stock worth $201,961,000 after purchasing an additional 1,143,079 shares during the period. Schroder Investment Management Group increased its stake in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $154.91 on Thursday. The PNC Financial Services Group has a 12-month low of $143.52 and a 12-month 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 company has a market cap of $61.31 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The stock has a 50-day moving average price of $177.42 and a 200-day moving average price of $190.02.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.16 EPS. As a group, equities analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 46.55%.

The PNC Financial Services Group Company Profile

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.