Analysts Set The PNC Financial Services Group, Inc (NYSE:PNC) Price Target at $265.73

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned an average rating of “Moderate Buy” from the twenty-one analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $267.8684.

A number of analysts have recently issued reports on PNC shares. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Truist Financial increased their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Oppenheimer raised their price target on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada lifted their price target on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird upped their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in The PNC Financial Services Group in the second quarter worth $7,921,455,000. Norges Bank bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,967,080,000. Bank of America Corp DE purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $2,102,631,000. Deutsche Bank AG purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $1,054,189,000. Finally, Jupiter Topco LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $756,877,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4%

Shares of PNC opened at $232.97 on Thursday. The firm’s 50 day simple moving average is $247.48 and its 200 day simple moving average is $230.86. The company has a market capitalization of $92.94 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.16 and a beta of 0.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group has a 1-year low of $176.88 and a 1-year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.85 EPS. Sell-side analysts forecast that The PNC Financial Services Group will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s payout ratio is currently 44.03%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through PNC Bank and its other businesses, the company provides banking, lending, investment, and financial advisory services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management, payment processing, and corporate banking services.