The PNC Financial Services Group (NYSE:PNC) Rating Increased to Outperform at Raymond James Financial

Raymond James Financial upgraded shares of The PNC Financial Services Group (NYSE:PNC - Free Report) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat.com reports. They currently have $220.00 target price on the financial services provider's stock.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Truist Financial reduced their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.11.

The PNC Financial Services Group Stock Down 0.5%

PNC stock traded down $0.97 during trading on Tuesday, reaching $196.98. The stock had a trading volume of 2,642,903 shares, compared to its average volume of 2,144,533. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $77.92 billion, a P/E ratio of 13.91, a PEG ratio of 1.67 and a beta of 1.07. The firm has a fifty day moving average price of $179.40 and a 200 day moving average price of $180.23.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, equities analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president directly owned 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director directly owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in PNC. Saudi Central Bank acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its position in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $35,000. WPG Advisers LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $36,000. Finally, REAP Financial Group LLC increased its position in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares during the period. 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 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.