The PNC Financial Services Group, Inc (NYSE:PNC) Receives $231.00 Consensus PT from Brokerages

The PNC Financial Services Group, Inc (NYSE:PNC) has earned an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $231.00.

PNC has been the subject of several analyst reports. Barclays raised their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. TD Cowen raised their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada increased their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Finally, Oppenheimer boosted their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th.

The PNC Financial Services Group Trading Up 1.7%

Shares of PNC stock opened at $242.53 on Wednesday. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $214.89 and its two-hundred day simple moving average is $200.51. The company has a market cap of $95.11 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the business earned $3.77 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts predict 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 6.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,350 shares of the financial services provider’s stock worth $1,534,000 after acquiring an additional 427 shares during the period. Americana Partners LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $258,000. RD Lewis Holdings Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $229,000. Insight Inv LLC lifted its position in shares of The PNC Financial Services Group by 21.3% in the 4th quarter. Insight Inv LLC now owns 12,632 shares of the financial services provider’s stock worth $2,637,000 after purchasing an additional 2,220 shares during the period. Finally, Evoke Wealth LLC boosted its stake in shares of The PNC Financial Services Group by 14.6% during the fourth quarter. Evoke Wealth LLC now owns 5,219 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.