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

Key Points

• Analysts rate PNC a “Moderate Buy,” with 17 buy ratings, four holds and one strong buy among 22 firms. The average 12-month price target is $265.73, above the reported $243.05 share price.
• PNC beat quarterly expectations, reporting $4.85 EPS versus the $4.46 consensus and $6.88 billion in revenue, up 21.4% year over year.
• The company raised its quarterly dividend to $2.00 per share, or $8.00 annualized, representing a 3.3% yield; insiders have sold approximately $11.6 million of stock over the past three months.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-two research firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $265.7250.

A number of equities analysts have issued reports on PNC shares. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Argus raised their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th.

The PNC Financial Services Group Trading Up 0.6%

PNC opened at $243.05 on Friday. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $258.96. The firm has a market capitalization of $96.96 billion, a PE ratio of 13.38, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The company's 50-day moving average is $248.28 and its 200 day moving average is $229.34.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 EPS. As a group, research analysts predict that The PNC Financial Services Group will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, July 20th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.70. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 44.03%.

Insiders Place Their Bets

In related news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction 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 sale, the executive vice president directly owned 3,107 shares in the company, 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, EVP Stacy M. Juchno sold 3,354 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 51,654 shares of company stock valued at $11,552,661. Insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in the business. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at about $25,000. Highland Investment Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $28,000. Finally, Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $29,000. 83.53% of the stock is currently owned by institutional investors.

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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