PNC Financial Services Group, Inc. (NYSE:PNC) Receives Medium “Holding” Recommendation from Analysts

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Shares of The PNC Financial Services Group, Inc. (NYSE: PNC – Get a rating) have been given a consensus “moderate buy” rating by the eighteen brokerages that currently cover the company, MarketBeat reports. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. The 12-month average price target among analysts who have covered the stock over the past year is $196.75.

A number of analysts have commented on the stock. Raymond James upgraded shares of PNC Financial Services Group from an “outperforming” rating to a “market performing” rating in a Thursday, July 7 research report. Argus cut its price target on PNC Financial Services Group shares from $245.00 to $220.00 in a Monday, April 18 research report. Piper Sandler set a price target of $160.00 on shares of PNC Financial Services Group in a Tuesday, July 19 research report. Wells Fargo & Company cut its price target on PNC Financial Services Group shares from $227.00 to $202.00 and set an “overweight” rating on the stock in a Friday, July 1 research report . Finally, Wolfe Research cut its price target on PNC Financial Services Group shares from $223.00 to $177.00 and set an “outperform” rating on the stock in a Thursday, May 26 research report. .

Institutional investors weigh on the PNC Financial Services group

Several institutional investors and hedge funds have recently increased or reduced their stake in PNC. Oppenheimer & Co. Inc. increased its stake in The PNC Financial Services Group by 20.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,472 shares of the financial services provider valued at $2,902,000 after purchasing an additional 2,479 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of The PNC Financial Services Group by 36.5% during the fourth quarter. Fisher Asset Management LLC now owns 9,737 shares of the financial services provider valued at $1,952,000 after acquiring an additional 2,606 shares during the period. Fermata Advisors LLC purchased a new stock position in The PNC Financial Services Group during Q4, valued at approximately $204,000. The New York State Common Retirement Fund increased its position in PNC Financial Services Group shares by 0.4% during the 4th quarter. The New York State Common Retirement Fund now owns 905,257 shares of the financial services provider valued at $181,522,000 after acquiring 3,860 additional shares during the period. Finally, BTR Capital Management Inc. acquired a new position in shares of The PNC Financial Services Group during Q4 worth approximately $210,000. Hedge funds and other institutional investors hold 83.54% of the company’s shares.

Performance of PNC Financial Services group shares

Shares of PNC Financial Services Group opened at $166.04 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 0.75. PNC Financial Services Group has a 12-month low of $146.39 and a 12-month high of $228.14. The stock has a market capitalization of $68.10 billion, a price/earnings ratio of 12.99, a P/E/G ratio of 2.45 and a beta of 1.21. The company’s fifty-day moving average is $161.63 and its 200-day moving average is $177.06.

The financial services group PNC (NYSE: PNC – Get a rating) last released its quarterly earnings data on Friday, July 15. The financial services provider reported earnings per share of $3.42 for the quarter, beating the consensus estimate of $3.11 by $0.31. The company posted revenue of $5.12 billion for the quarter, versus $5.13 billion expected by analysts. The PNC Financial Services group achieved a net margin of 27.32% and a return on equity of 11.93%. PNC Financial Services Group revenue for the quarter increased 9.6% year on year. In the same quarter a year earlier, the firm posted earnings of $4.50 per share. Sell-side analysts expect PNC Financial Services Group to post year-to-date EPS of 14.48.

PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 5. Investors 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 3.61%. PNC Financial Services Group’s dividend payout ratio is currently 46.95%.

PNC Financial Services Group Company Profile

(Get a rating)

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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Analyst Recommendations for PNC Financial Services Group (NYSE: PNC)

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