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 Analyst Weigh In
PNC has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $227.00 to $202.00 and set an "overweight" rating on the stock in a research report on Friday, July 1st. Piper Sandler set a $160.00 price target on The PNC Financial Services Group in a research report on Tuesday, July 19th. Wolfe Research dropped their price target on The PNC Financial Services Group from $223.00 to $177.00 and set an "outperform" rating on the stock in a research report on Thursday, May 26th. Argus dropped their price target on The PNC Financial Services Group from $245.00 to $220.00 in a research report on Monday, April 18th. Finally, Evercore ISI set a $175.00 price target on The PNC Financial Services Group in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $197.63.
The PNC Financial Services Group Stock Performance
PNC opened at $165.92 on Wednesday. The stock has a market cap of $68.05 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.45 and a beta of 1.21. 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 stock's 50 day simple moving average is $161.44 and its 200 day simple moving average is $176.98. The PNC Financial Services Group has a 1-year low of $146.39 and a 1-year high of $228.14.
The PNC Financial Services Group (NYSE:PNC - Get Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $0.31. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.13 billion. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.50 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group will post 14.48 EPS for the current fiscal year.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, July 12th. The PNC Financial Services Group's payout ratio is currently 46.95%.