Recent Investment Analysts’ Ratings Changes for The PNC Financial Services Group (PNC)

Several brokerages have updated their recommendations and price targets on shares of The PNC Financial Services Group (NYSE: PNC) in the last few weeks:

• 7/17/2024 – The PNC Financial Services Group had its price target lowered by analysts at Morgan Stanley from $167.00 to $165.00. They now have an “underweight” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Keefe, Bruyette & Woods from $152.00 to $162.00. They now have an “underperform” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Barclays PLC from $199.00 to $209.00. They now have an “overweight” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Wells Fargo & Company from $194.00 to $204.00. They now have an “overweight” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Evercore ISI from $184.00 to $200.00. They now have an “outperform” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Royal Bank of Canada from $155.00 to $184.00. They now have an “outperform” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at The Goldman Sachs Group, Inc. from $165.00 to $182.00. They now have a “neutral” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Bank of America Co. from $169.00 to $185.00. They now have a “neutral” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at Citigroup Inc. from $175.00 to $200.00. They now have a “buy” rating on the stock.
• 7/17/2024 – The PNC Financial Services Group had its price target raised by analysts at UBS Group AG from $179.00 to $198.00. They now have a “buy” rating on the stock.
• 7/8/2024 – The PNC Financial Services Group was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $179.00 price target on the stock, up previously from $165.00.
• 7/3/2024 – The PNC Financial Services Group had its price target raised by analysts at Jefferies Financial Group Inc. from $162.00 to $164.00. They now have a “hold” rating on the stock.
• 6/25/2024 – The PNC Financial Services Group had its price target raised by analysts at Evercore ISI from $180.00 to $184.00. They now have an “outperform” rating on the stock.
• 5/29/2024 – The PNC Financial Services Group was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/21/2024 – The PNC Financial Services Group was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

The PNC Financial Services Group Stock Down 0.5 %

Shares of The PNC Financial Services Group stock traded down $0.89 during trading on Thursday, hitting $178.82. 93,708 shares of the stock traded hands, compared to its average volume of 1,914,413. The firm has a market cap of $71.15 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $180.86. The stock’s fifty day simple moving average is $157.29 and its 200 day simple moving average is $153.96.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm earned $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.67 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is 53.74%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,419 shares of company stock valued at $1,022,826. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PNC. Norges Bank acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $1,039,481,000. Franklin Resources Inc. increased its position in shares of The PNC Financial Services Group by 165.4% in the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Capital International Investors increased its position in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after buying an additional 1,978,854 shares in the last quarter. Capital Research Global Investors increased its position in shares of The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after buying an additional 778,264 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after buying an additional 639,903 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

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.