The PNC Financial Services Group, Inc (NYSE:PNC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The PNC Financial Services Group, Inc (NYSE:PNC) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $222.0556.

A number of analysts have weighed in on PNC shares. Oppenheimer cut their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Evercore ISI increased their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. UBS Group raised their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Raymond James Financial boosted their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in The PNC Financial Services Group during the 3rd quarter worth $8,360,000. Benjamin Edwards Inc. raised its stake in shares of The PNC Financial Services Group by 27.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 24,763 shares of the financial services provider’s stock valued at $4,977,000 after purchasing an additional 5,294 shares in the last quarter. Cullen Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 3.8% during the second quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock worth $38,193,000 after purchasing an additional 7,478 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of The PNC Financial Services Group by 115.1% during the second quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock worth $1,050,000 after purchasing an additional 3,013 shares during the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new position in The PNC Financial Services Group in the second quarter worth about $573,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2%

NYSE PNC opened at $212.07 on Friday. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $220.54. The firm has a 50 day moving average of $201.26 and a two-hundred day moving average of $196.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $83.16 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $3.49 EPS. As a group, research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

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.