The PNC Financial Services Group, Inc (NYSE:PNC) Receives $222.06 Consensus Target Price from Analysts

The PNC Financial Services Group, Inc (NYSE:PNC) has earned an average rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $222.0556.

Several equities analysts have recently weighed in on the company. Oppenheimer cut their price objective on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Truist Financial lifted their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. TD Cowen raised their price objective on shares of The PNC Financial Services Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th.

Insider Buying and Selling

In other news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of The PNC Financial Services Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock valued at $7,174,760,000 after acquiring an additional 521,455 shares during the last quarter. State Street Corp increased its position in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock worth $3,464,462,000 after purchasing an additional 85,291 shares during the last quarter. Capital International Investors raised its stake in shares of The PNC Financial Services Group by 6.0% during the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after purchasing an additional 609,755 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock valued at $1,628,302,000 after buying an additional 93,346 shares during the last quarter. Finally, Viking Global Investors LP grew its stake in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $215.79 on Friday. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $220.54. The firm has a market capitalization of $84.63 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average of $200.11 and a 200-day moving average of $196.59.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $3.49 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.