PNC Financial Services Group, Inc. (NYSE:PNC) Receives Consensus Rating of “Hold” by Brokerages
The PNC Financial Services Group, Inc. (NYSE: PNC – Get a rating) has been assigned a consensus rating of “moderate buy” by the eighteen research firms that currently cover the business, reports MarketBeat Ratings. Five analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $196.97.
Several research analysts have published reports on the stock. Evercore ISI set a target price of $175.00 on shares of PNC Financial Services Group in a Tuesday, July 19 report. Credit Suisse Group lowered its price target on PNC Financial Services Group shares from $172.00 to $170.00 and set a “neutral” rating for the company in a Monday, July 18 report. Citigroup cut its price target on shares of PNC Financial Services Group from $190.00 to $170.00 in a Tuesday, July 12 report. Piper Sandler set a target price of $160.00 on shares of PNC Financial Services Group in a Tuesday, July 19 report. Finally, Barclays cut its price target on PNC Financial Services Group shares from $250.00 to $222.00 and set an “overweight” rating for the company in a Monday, July 18 report.
Insiders place their bets
In related news, EVP Michael P.Lyons sold 3,500 shares of the company in a trade on Tuesday, August 23. The shares were sold at an average price of $166.96, for a total transaction of $584,360.00. Following the completion of the transaction, the executive vice president now owns 174,651 shares of the company, valued at $29,159,730.96. The sale was disclosed in an SEC filing, which is available via this hyperlink. Insiders of the company own 0.34% of the shares of the company.
Hedge funds weigh on PNC Financial Services Group
Hedge funds and other institutional investors have recently changed their stock holdings. Citizens National Bank Trust Department bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Guardian Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter at a value of $32,000. Mascoma Wealth Management LLC increased its stake in shares of The PNC Financial Services Group by 89.8% in the first quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider valued at $31,000 after acquiring an additional 79 shares during the period. ACG Wealth bought a new stake in shares of PNC Financial Services Group in the second quarter at a value of $27,000. Finally, Win Advisors Inc. increased its stake in shares of The PNC Financial Services Group by 61.0% in the second quarter. Win Advisors Inc. now owns 198 shares of the financial services provider worth $32,000 after acquiring 75 additional shares during the period. Institutional investors hold 81.89% of the company’s shares.
Price performance of PNC Financial Services Group
Shares of PNC Financial Services Group opened at $148.03 on Wednesday. The company has a market capitalization of $60.71 billion, a PE ratio of 11.58, a growth price-earnings ratio of 2.27 and a beta of 1.21. Financial services group PNC has a 12-month low of $146.39 and a 12-month high of $228.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 0.75. The company’s fifty-day simple moving average is $163.53 and its two-hundred-day simple moving average is $167.88.
The financial services group PNC (NYSE: PNC – Get a rating) last announced its results on Friday, July 15. The financial services provider reported earnings per share of $3.42 for the quarter, beating consensus analyst estimates of $3.11 by $0.31. The PNC Financial Services group achieved a net margin of 27.32% and a return on equity of 11.93%. The company posted revenue of $5.12 billion for the quarter, versus analyst estimates of $5.13 billion. In the same quarter a year earlier, the company posted EPS of $4.50. The company’s revenue for the quarter increased by 9.6% compared to the same quarter last year. As a group, equity analysts expect PNC Financial Services Group to post EPS of 14.49 for the current year.
PNC Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 5. Shareholders of record on Wednesday, July 13 received a dividend of $1.50. The ex-dividend date was Tuesday, July 12. This represents a dividend of $6.00 on an annualized basis and a dividend yield of 4.05%. The payout ratio of PNC Financial Services Group is currently 46.95%.
About PNC Financial Services Group
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, investment and cash management services.
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