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

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have been given a consensus recommendation of “Hold” by the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $205.00.

Several brokerages have commented on PNC. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial upped their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company upped 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. Finally, Piper Sandler increased their price target on 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.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $196.20 on Wednesday. The company has a market cap of $77.85 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $196.90 and its 200-day moving average price is $191.28. 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 released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. Sell-side analysts predict that The PNC Financial Services Group will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,730,549. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently bought and sold shares of PNC. Norges Bank acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $299,864,000. Schroder Investment Management Group raised its position in The PNC Financial Services Group by 166.1% in the 4th 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp grew its position in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.