The PNC Financial Services Group, Inc (NYSE:PNC) Receives $252.71 Consensus Target Price from Analysts

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $258.0882.

PNC has been the subject of a number of research reports. Morgan Stanley raised their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. UBS Group upped their target price on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a research note on Monday.

Trending Headlines about The PNC Financial Services Group

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC boosted its quarterly dividend by about 17.6%-18%, signaling strong capital levels and management confidence in future cash generation. The increase should appeal to income investors and may be helping the stock. Article Title
• Positive Sentiment: UBS raised its price target on PNC and reiterated a buy rating, pointing to upside potential versus the recent trading level. That kind of analyst support can lift sentiment ahead of earnings. Article Title
• Positive Sentiment: PNC launched a new mobile banking app, which could improve customer experience and help strengthen digital engagement over time. Article Title
• Positive Sentiment: PNC is being discussed as part of a possible bank-led effort to buy Fiserv’s STAR debit network, a move that could reduce payment-processing costs and create a new revenue opportunity for large banks if it advances. Article Title
• Neutral Sentiment: Wall Street expects PNC to report earnings growth in its July 15 Q2 results, but some commentary says the setup does not strongly favor a clear earnings beat. Investors are likely waiting for the report before making bigger moves. Article Title

Insider Transactions at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,300 shares of company stock worth $10,694,574 over the last 90 days. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the period. State Street Corp grew its stake in The PNC Financial Services Group by 0.4% in the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after purchasing an additional 1,101,055 shares during the last quarter. Norges Bank bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $1,967,080,000. Finally, Geode Capital Management LLC lifted its position in The PNC Financial Services Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after acquiring an additional 30,078 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $246.58 on Friday. The stock has a market capitalization of $99.02 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $256.00. The firm has a 50 day moving average of $228.64 and a 200-day moving average of $221.56.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 18.83 EPS 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 Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

The PNC Financial Services Group Company Profile

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.