The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) has received an average rating of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $215.29.
PNC has been the subject of several research reports. Piper Sandler lowered their target price on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a research note on Friday, April 1st. Argus reduced their target price on The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Wolfe Research reduced their target price on The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Raymond James cut their price target on The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Finally, Morgan Stanley cut their price target on The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a report on Monday, March 28th.
Shares of NYSE PNC opened at $154.09 on Monday. The business’s 50-day simple moving average is $167.61 and its 200-day simple moving average is $188.80. The PNC Financial Services Group has a 52 week low of $149.51 and a 52 week high of $228.14. The firm has a market cap of $63.73 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company earned $4.10 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group will post 14.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Wednesday, April 13th were paid a $1.50 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a $6.00 annualized dividend and a dividend yield of 3.89%. The PNC Financial Services Group’s dividend payout ratio is presently 50.76%.
In related news, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert A. Niblock bought 2,000 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the purchase, the director now directly owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew its holdings in shares of The PNC Financial Services Group by 128.1% in the third quarter. Cubist Systematic Strategies LLC now owns 11,493 shares of the financial services provider’s stock worth $2,248,000 after purchasing an additional 6,454 shares during the last quarter. LPL Financial LLC lifted its position in The PNC Financial Services Group by 10.6% during the third quarter. LPL Financial LLC now owns 109,784 shares of the financial services provider’s stock valued at $21,478,000 after buying an additional 10,556 shares during the period. Voloridge Investment Management LLC purchased a new position in The PNC Financial Services Group during the third quarter valued at $4,783,000. Toroso Investments LLC raised its position in shares of The PNC Financial Services Group by 17.2% in the 3rd quarter. Toroso Investments LLC now owns 3,490 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 511 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of The PNC Financial Services Group by 6.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 19,749 shares of the financial services provider’s stock worth $3,864,000 after purchasing an additional 1,154 shares during the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.
The PNC Financial Services Group Company Profile (Get Rating)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
Further Reading
Receive News & Ratings for The PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
