The PNC Financial Services Group, Inc (NYSE:PNC) Stock Has Average Price Target of $266.04 According to Analysts

Key Points

• Analyst sentiment is moderately positive: 17 of 25 analysts rate PNC a buy and eight recommend holding, with an average 12-month price target of $266.04.
• PNC reported quarterly EPS of $5.09, beating the $4.91 consensus estimate; revenue rose 10.9% year over year to $6.60 billion, slightly below expectations.
• PNC declared a quarterly dividend of $2 per share, equivalent to $8 annually and a 3.5% yield. The stock opened at $226.69, down 2.9% in the reported session.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-five analysts that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $266.04.

A number of brokerages have recently weighed in on PNC. Bank of America lowered their price target on The PNC Financial Services Group from $291.00 to $276.00 in a report on Thursday, October 8th. HSBC raised their price objective on The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. Wolfe Research started coverage on shares of The PNC Financial Services Group in a report on Tuesday, October 27th. They issued a "peer perform" rating for the company. DA Davidson boosted their target price on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a "buy" rating to a "hold" rating and increased their target price for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd.

The PNC Financial Services Group Stock Down 2.9%

NYSE:PNC opened at $226.69 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The PNC Financial Services Group has a one year low of $177.08 and a one year high of $258.96. The stock has a 50-day simple moving average of $228.94 and a 200 day simple moving average of $229.18.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The firm had revenue of $6.60 billion for the quarter, compared to analysts' expectations of $6.61 billion. During the same quarter in the prior year, the firm posted $4.35 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 10.9% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group's payout ratio is 42.58%.

Insider Buying and Selling at The PNC Financial Services Group

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

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at $7,921,455,000. Bank of America Corp DE purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $2,102,631,000. Deutsche Bank AG acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $1,054,189,000. Jupiter Topco LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $756,877,000. Finally, Legal & General Group Plc bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $669,168,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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

PNC's consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

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