Shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Free Report) have earned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $159.63.
PNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Bank of America increased their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, UBS Group upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $165.00 to $179.00 in a report on Monday.
Check Out Our Latest Stock Analysis on PNC
Insider Buying and Selling at The PNC Financial Services Group
In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 5,177 shares of company stock worth $814,791 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On The PNC Financial Services Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNC. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the 4th quarter worth $26,000. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter worth $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
The PNC Financial Services Group Price Performance
NYSE:PNC opened at $168.30 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The business’s 50-day moving average price is $155.92 and its 200 day moving average price is $153.43. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $169.11. The firm has a market cap of $66.97 billion, a P/E ratio of 14.13, a PEG ratio of 2.26 and a beta of 1.15.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The business’s revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group will post 12.65 earnings per share for the current fiscal year.
The PNC Financial Services Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.80%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.
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.
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Source: americanbankingnews.com
