The PNC Financial Services Group, Inc (NYSE:PNC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on PNC, with 17 buys, four holds, and one strong buy among 22 analysts. The average 12-month price target is $265.73, with several firms recently raising their targets.
• PNC reported quarterly EPS of $4.85, beating estimates of $4.46, while revenue rose 21.4% year over year to $6.88 billion. The company also increased its quarterly dividend to $2.00 per share, equivalent to a 3.5% annual yield.
• PNC shares opened at $231.62 after declining 3.8%, while institutional investors own a substantial 83.53% stake in the company.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-two analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $265.7250.

Several research firms recently weighed in on PNC. Truist Financial raised their target price on shares of 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. UBS Group boosted their price target on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Argus increased their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th.

Insider Transactions at The PNC Financial Services Group

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

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in The PNC Financial Services Group during the second quarter valued at approximately $7,921,455,000. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,967,080,000. Bank of America Corp DE purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $2,102,631,000. Deutsche Bank AG bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $1,054,189,000. Finally, Jupiter Topco LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $756,877,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 3.8%

PNC stock opened at $231.62 on Thursday. The PNC Financial Services Group has a 1-year low of $176.88 and a 1-year high of $258.96. 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 company has a market capitalization of $92.40 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.20 and a beta of 0.90. The business has a 50 day simple moving average of $248.23 and a two-hundred day simple moving average of $230.71.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm posted $3.85 EPS. The company's revenue was up 21.4% on a year-over-year basis. Research analysts anticipate that The PNC Financial Services Group will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.5%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.70. The PNC Financial Services Group's dividend payout ratio (DPR) is 44.03%.

The PNC Financial Services Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.