The PNC Financial Services Group - PNC Stock Forecast, Price & News

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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. This segment serves consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. Its Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services, and access to online/mobile information management and reporting; foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The company's Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services for ultra high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients. The company has 2,591 branches and 9,502 ATMs. The company was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNC. Argus reduced their price objective on The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Citigroup cut their price target on The PNC Financial Services Group from $190.00 to $170.00 in a research note on Tuesday, July 12th. Raymond James lowered The PNC Financial Services Group from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 7th. Piper Sandler set a $160.00 price target on The PNC Financial Services Group in a research note on Tuesday, July 19th. Finally, Wolfe Research cut their price target on The PNC Financial Services Group from $223.00 to $177.00 and set an "outperform" rating for the company in a research note on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $197.63.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $2.69 during trading on Friday, reaching $174.63. 1,188,043 shares of the stock traded hands, compared to its average volume of 1,765,633. The company has a market capitalization of $71.62 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 2.56 and a beta of 1.21. The business has a fifty day simple moving average of $161.34 and a two-hundred day simple moving average of $176.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.75. The PNC Financial Services Group has a 52-week low of $146.39 and a 52-week high of $228.14.

The PNC Financial Services Group (NYSE:PNC - Get Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the firm earned $4.50 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group will post 14.48 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, July 12th. The PNC Financial Services Group's payout ratio is 46.95%.