The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) – Stock analysts at Oppenheimer raised their FY2022 earnings per share estimates for shares of The PNC Financial Services Group in a research report issued on Friday, July 1st. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will earn $14.12 per share for the year, up from their prior estimate of $13.96. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $14.21 per share.
Other equities analysts also recently issued reports about the stock. Wolfe Research dropped their price target on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a research report on Monday, March 28th. StockNews.com started coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company lowered their target price on shares of 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. Finally, Raymond James lowered their target price on shares of The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $214.40.
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Shares of NYSE:PNC opened at $161.30 on Monday. The company’s fifty day moving average is $163.75 and its two-hundred day moving average is $185.86. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.54. The PNC Financial Services Group has a 12-month low of $149.51 and a 12-month high of $228.14. The company has a market cap of $66.71 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its earnings results on Thursday, April 14th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the business earned $4.10 EPS. The company’s revenue was up 11.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Wednesday, July 13th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 50.76%.
In other 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 transaction of $214,393.92. Following the completion of the sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert A. Niblock acquired 2,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were purchased at an average cost of $167.07 per share, with a total value of $334,140.00. Following the acquisition, the director now owns 6,063 shares of the company’s stock, valued at approximately $1,012,945.41. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Citizens National Bank Trust Department acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Retirement Planning Co of New England Inc. bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Mascoma Wealth Management LLC boosted its stake in The PNC Financial Services Group by 89.8% in the first quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 79 shares during the last quarter. Guardian Wealth Management Inc. bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Covestor Ltd bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $40,000. 83.54% of the stock is owned by institutional investors and hedge funds.
About The PNC Financial Services Group (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.
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