The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $216.00

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Truist Financial from $215.00 to $216.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other equities research analysts have also commented on PNC. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Up 0.9 %

NYSE PNC opened at $198.36 on Friday. The PNC Financial Services Group has a 1 year low of $139.69 and a 1 year high of $216.26. The stock has a market capitalization of $78.71 billion, a PE ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $201.40 and its 200 day moving average is $187.23.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that The PNC Financial Services Group will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,030 shares of company stock worth $5,928,202. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its position in The PNC Financial Services Group by 9.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of The PNC Financial Services Group by 7.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock worth $2,081,000 after buying an additional 908 shares during the period. Blair William & Co. IL lifted its stake in shares of The PNC Financial Services Group by 216.5% during the 2nd quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock worth $7,112,000 after acquiring an additional 31,289 shares during the last quarter. XTX Topco Ltd purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at $512,000. Finally, MQS Management LLC bought a new position in The PNC Financial Services Group in the 2nd quarter valued at $487,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.