The PNC Financial Services Group (NYSE:PNC) Upgraded to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of The PNC Financial Services Group (NYSE:PNC) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other research firms have also issued reports on PNC. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Truist Financial upped their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Royal Bank Of Canada lifted their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $235.26.

The PNC Financial Services Group Trading Down 0.3%

Shares of PNC stock opened at $205.34 on Wednesday. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The company has a 50 day moving average price of $219.31 and a 200 day moving average price of $205.12. The stock has a market capitalization of $82.83 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business earned $3.77 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal 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 issued a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This represents a 79.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last quarter. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its stake in The PNC Financial Services Group by 48.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 217,518 shares of the financial services provider’s stock valued at $45,403,000 after purchasing an additional 71,433 shares during the period. World Investment Advisors grew its holdings in shares of The PNC Financial Services Group by 123.5% during the fourth quarter. World Investment Advisors now owns 10,984 shares of the financial services provider’s stock worth $2,293,000 after buying an additional 6,069 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $46,000. Larry Mathis Financial Planning LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $396,000. Finally, Advisortrust Partners LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $5,018,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.