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

Key Points

• The PNC Financial Services Group has an average analyst rating of “Moderate Buy” from 21 covering analysts, with a consensus 12-month price target of about $243.11.
• Recent earnings were solid: PNC reported Q1 EPS of $4.32, beating expectations, while revenue came in slightly below estimates but still rose 13.1% year over year.
• The company also paid a quarterly dividend of $1.70 per share, equal to an annualized $6.80 and a yield of about 3.0%.

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 currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned 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 $243.1111.

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on 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. Citigroup increased their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Truist Financial increased their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a "hold" rating in a report on Thursday, April 16th. Bank of America increased their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a "buy" rating and a $250.00 price objective for the company.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company's stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company's stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.38% of the company's stock.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock worth $8,114,168,000 after buying an additional 408,464 shares during the last quarter. State Street Corp boosted its holdings in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider's stock worth $3,615,085,000 after acquiring an additional 77,302 shares during the period. Capital International Investors boosted its holdings in shares of The PNC Financial Services Group by 10.2% in the fourth quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider's stock worth $2,491,819,000 after acquiring an additional 1,101,055 shares during the period. Norges Bank bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $1,967,080,000. Finally, Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider's stock worth $1,841,387,000 after acquiring an additional 30,078 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.6%

Shares of NYSE:PNC opened at $227.02 on Tuesday. The business's 50 day simple moving average is $218.55 and its two-hundred day simple moving average is $214.93. The firm has a market cap of $91.17 billion, a P/E ratio of 13.19, a PEG ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group has a 52-week low of $172.73 and a 52-week high of $243.94.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 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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