Shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $196.75.
A number of analysts have commented on the stock. Raymond James cut shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. Argus cut their price objective on shares of The PNC Financial Services Group from $245.00 to $220.00 in a research report on Monday, April 18th. Piper Sandler set a $160.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, July 19th. Wells Fargo & Company cut their price objective 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, July 1st. Finally, Wolfe Research cut their price objective 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 report on Thursday, May 26th.
Institutional Investors Weigh In On The PNC Financial Services Group
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Several institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Oppenheimer & Co. Inc. increased its stake in The PNC Financial Services Group by 20.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 14,472 shares of the financial services provider’s stock valued at $2,902,000 after buying an additional 2,479 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of The PNC Financial Services Group by 36.5% during the 4th quarter. Fisher Asset Management LLC now owns 9,737 shares of the financial services provider’s stock valued at $1,952,000 after acquiring an additional 2,606 shares during the period. Fermata Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $204,000. New York State Common Retirement Fund grew its position in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 905,257 shares of the financial services provider’s stock valued at $181,522,000 after acquiring an additional 3,860 shares during the period. Finally, BTR Capital Management Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $210,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $166.04 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.75. The PNC Financial Services Group has a twelve month low of $146.39 and a twelve month high of $228.14. The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 2.45 and a beta of 1.21. The company’s fifty day moving average is $161.63 and its 200 day moving average is $177.06.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.31. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The PNC Financial Services Group’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.50 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group will post 14.48 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were issued a $1.50 dividend. The ex-dividend date was Tuesday, July 12th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio is presently 46.95%.
The PNC Financial Services Group Company Profile
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.
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