The PNC Financial Services Group (NYSE:PNC) Given New $220.00 Price Target at Piper Sandler

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Piper Sandler from $200.00 to $220.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on PNC. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays raised their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $193.96.

The PNC Financial Services Group Stock Up 0.5 %

Shares of NYSE:PNC opened at $208.88 on Tuesday. The firm has a market cap of $82.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.19 and a beta of 1.15. The PNC Financial Services Group has a 12-month low of $139.00 and a 12-month high of $216.26. The business has a fifty day simple moving average of $196.11 and a 200 day simple moving average of $177.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock worth $5,613,814 over the last quarter. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. State Street Corp boosted its position in shares of The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the period. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after buying an additional 123,994 shares in the last quarter. Geode Capital Management LLC boosted its stake in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares during the period. Ameriprise Financial Inc. grew its position in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after acquiring an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.