The PNC Financial Services Group, Inc (NYSE:PNC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• The PNC Financial Services Group has received an average recommendation of "Moderate Buy" from 20 brokerage firms, with a consensus price target of $214.17.
• PNC recently raised its quarterly dividend to $1.70, resulting in an annualized dividend of $6.80 and a yield of 3.6%.
• The company reported $3.85 earnings per share for the last quarter, exceeding analyst estimates of $3.56, along with a revenue increase of 4.6% year-over-year.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $214.1667.

A number of research analysts have recently commented on PNC shares. Royal Bank Of Canada lowered their price objective on 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. Truist Financial increased their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective on the stock. Finally, Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $191.23 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock's 50-day moving average is $187.96 and its two-hundred day moving average is $179.74. The firm has a market cap of $75.31 billion, a P/E ratio of 13.08, a PEG ratio of 1.40 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the firm posted $3.39 EPS. The business's revenue was up 4.6% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently modified their holdings of the company. Inceptionr LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $209,000. FourThought Financial Partners LLC lifted its position in shares of The PNC Financial Services Group by 4.0% during the 2nd quarter. FourThought Financial Partners LLC now owns 34,072 shares of the financial services provider's stock worth $6,352,000 after buying an additional 1,307 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of The PNC Financial Services Group by 45.3% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,960 shares of the financial services provider's stock worth $3,535,000 after buying an additional 5,914 shares during the period. Columbia Bank lifted its position in shares of The PNC Financial Services Group by 6.3% during the 2nd quarter. Columbia Bank now owns 13,572 shares of the financial services provider's stock worth $2,687,000 after buying an additional 802 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 18,542.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 63,010 shares of the financial services provider's stock worth $11,746,000 after buying an additional 62,672 shares during the period. Institutional investors own 83.53% of the company's stock.

About The PNC Financial Services Group

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.

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