The PNC Financial Services Group, Inc. (NYSE:PNC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have been given a consensus rating of “Hold” by the seventeen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $193.96.

Several equities research analysts have recently issued reports on PNC shares. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $208.88 on Friday. The PNC Financial Services Group has a 12-month low of $139.00 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $82.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.19 and a beta of 1.15. The business’s 50 day moving average is $196.11 and its two-hundred day moving average is $177.92.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.06%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock valued at $5,613,814 over the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P lifted its stake in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the period. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 56 shares during the last quarter. Altman Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 57 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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.