Analysts Set The PNC Financial Services Group, Inc (NYSE:PNC) Price Target at $243.11

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been given an average rating of “Moderate Buy” by the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $243.1111.

A number of research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Oppenheimer lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th.

The PNC Financial Services Group Trading Down 0.2%

The PNC Financial Services Group stock opened at $213.24 on Friday. The firm’s 50-day moving average is $213.63 and its 200-day moving average is $211.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group has a 1 year low of $169.32 and a 1 year high of $243.94. The company has a market cap of $85.63 billion, a P/E ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the firm posted $3.51 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of PNC. Norges Bank bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $1,967,080,000. Viking Global Investors LP increased its stake in The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares during the period. Corient Private Wealth LLC increased its stake in The PNC Financial Services Group by 961.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock valued at $549,023,000 after buying an additional 2,382,552 shares during the period. Deutsche Bank AG increased its stake in The PNC Financial Services Group by 108.2% during the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock valued at $800,884,000 after buying an additional 1,994,431 shares during the period. Finally, Wellington Management Group LLP increased its stake in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after buying an additional 1,162,964 shares during the period. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.