The PNC Financial Services Group, Inc. (NYSE:PNC) Receives $202.67 Average Price Target from Analysts

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) have earned an average rating of "Moderate Buy" from the nineteen analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $202.67.

PNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. Truist Financial lowered their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Finally, Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the sale, the chief executive officer now directly owns 562,291 shares of the company's stock, valued at $84,624,795.50. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction on 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 acquisition, the director now owns 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. Insiders sold 16,396 shares of company stock valued at $2,747,698 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $1,352,151,000. Finally, Ameriprise Financial Inc. boosted its position in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after acquiring an additional 24,588 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.7%

Shares of PNC traded down $1.24 during trading on Friday, reaching $173.86. The company's stock had a trading volume of 4,161,391 shares, compared to its average volume of 2,058,638. The company has a fifty day moving average of $165.07 and a two-hundred day moving average of $184.65. The PNC Financial Services Group has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a market cap of $68.77 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, sell-side analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.68%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

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.