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

Key Points

• PNC Financial Services has a consensus analyst rating of “Moderate Buy”, based on coverage from 21 analysts: 14 buys, 1 strong buy, and 6 holds. The average 1-year price target is about $243.11.
• The company recently reported strong quarterly earnings, posting EPS of $4.32 versus estimates of $3.92, while revenue rose 13.1% year over year to $6.17 billion. Analysts expect full-year EPS of 18.93.
• PNC also paid a quarterly dividend of $1.70 per share, equal to an annualized yield of about 3.2%. Meanwhile, insiders sold shares recently, including CEO William S. Demchak, while institutional investors continue to hold a large stake in the company.

Shares of The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, fourteen have issued 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 $243.1111.

A number of brokerages recently commented on PNC. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a report on Thursday, April 16th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. TD Cowen increased their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares of the company's stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,186 shares of company stock valued at $14,840,973 over the last quarter. Insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the business. Cvfg LLC boosted its position in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 43 shares during the last quarter. YANKCOM Partnership increased its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC increased its position in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after purchasing an additional 46 shares during the last quarter. Baron Wealth Management LLC raised its stake in shares of The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider's stock worth $325,000 after purchasing an additional 46 shares in the last quarter. Finally, Atom Investors LP raised its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock worth $529,000 after purchasing an additional 46 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $213.57 on Friday. The stock has a market cap of $85.76 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.87 and a beta of 0.94. The PNC Financial Services Group has a 1 year low of $169.32 and a 1 year high of $243.94. The stock's 50-day moving average price is $213.48 and its two-hundred day moving average price is $210.55. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.21 billion. During the same period in the prior year, the business posted $3.51 EPS. The PNC Financial Services Group's revenue was up 13.1% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group's dividend payout ratio is 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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