The PNC Financial Services Group, Inc (NYSE:PNC) Stock Has Average Price Target of $270.11 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Twenty-one analysts give PNC an average “Moderate Buy” rating, with a consensus 12-month price target of $270.11 versus the reported opening price of $219.23.
• Recent financial results exceeded expectations: PNC reported quarterly EPS of $4.85 against a $4.46 consensus estimate, while revenue rose 21.4% year over year to $6.88 billion.
• PNC maintains an income-focused profile: The company declared a quarterly dividend of $2.00 per share, equivalent to an annualized $8.00 payout and a 3.6% yield; institutional investors own 83.53% of outstanding shares.

Shares of The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-one analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $270.11.

Several research analysts recently weighed in on the stock. Stephens upped their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Truist Financial decreased their price target on shares of The PNC Financial Services Group from $264.00 to $252.00 and set a "hold" rating on the stock in a research note on Thursday, October 1st. UBS Group lowered their price objective on The PNC Financial Services Group from $288.00 to $286.00 and set a "buy" rating on the stock in a report on Monday, October 5th. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $281.00 to $250.00 and set a "neutral" rating for the company in a research note on Monday, October 5th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th.

The PNC Financial Services Group Trading Up 0.0%

Shares of The PNC Financial Services Group stock opened at $219.23 on Monday. The company has a market cap of $87.46 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $258.96. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50-day simple moving average of $238.89 and a two-hundred day simple moving average of $232.82.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the business posted $3.85 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities analysts predict that The PNC Financial Services Group will post 19.22 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, October 14th. The PNC Financial Services Group's dividend payout ratio is currently 44.03%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company's stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in The PNC Financial Services Group during the 2nd quarter worth $7,921,455,000. State Street Corp increased its holdings in The PNC Financial Services Group by 4.3% during the 2nd quarter. State Street Corp now owns 18,434,446 shares of the financial services provider's stock worth $4,538,929,000 after purchasing an additional 765,097 shares during the period. Bank of America Corp DE purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $2,102,631,000. Deutsche Bank AG purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The PNC Financial Services Group by 1.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider's stock valued at $888,309,000 after purchasing an additional 39,112 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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 banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC's principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.

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