The PNC Financial Services Group, Inc. (NYSE:PNC) Given Average Rating of “Hold” by Brokerages

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have been assigned an average rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $202.56.

A number of brokerages recently issued reports on PNC. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Compass Point upped their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler upped their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,272 shares of company stock valued at $6,155,103. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently bought and sold shares of PNC. Rothschild Investment LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $326,000. Concurrent Investment Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 13.9% during the second quarter. Concurrent Investment Advisors LLC now owns 4,404 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 539 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of The PNC Financial Services Group by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 187,036 shares of the financial services provider’s stock valued at $29,080,000 after acquiring an additional 3,200 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of The PNC Financial Services Group by 8.4% in the second quarter. Van ECK Associates Corp now owns 83,404 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 6,437 shares during the last quarter. Finally, Graypoint LLC increased its position in shares of The PNC Financial Services Group by 6.6% during the second quarter. Graypoint LLC now owns 2,552 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 158 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.1 %

PNC opened at $195.35 on Tuesday. The firm has a market cap of $77.51 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a 50-day moving average of $201.08 and a 200 day moving average of $184.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

The PNC Financial Services Group Company Profile

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.