Shares of PNC Financial Services Group Inc (NYSE:PNC) have received an average rating of “Hold” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $142.99.
PNC has been the topic of several recent analyst reports. Zacks Investment Research cut Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price target on the stock. ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Morgan Stanley set a $36.00 price target on ArcBest and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Barclays raised their price target on Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a report on Monday, April 15th.
In related news, insider Joseph E. Rockey sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the transaction, the insider now directly owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PNC. Norges Bank purchased a new position in shares of PNC Financial Services Group during the 4th quarter valued at about $550,507,000. FMR LLC grew its position in PNC Financial Services Group by 32.7% during the 4th quarter. FMR LLC now owns 10,859,988 shares of the financial services provider’s stock worth $1,269,641,000 after acquiring an additional 2,677,895 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in PNC Financial Services Group by 13,808.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock worth $188,593,000 after acquiring an additional 1,872,373 shares during the last quarter. American Century Companies Inc. grew its position in PNC Financial Services Group by 13.7% during the 4th quarter. American Century Companies Inc. now owns 3,996,313 shares of the financial services provider’s stock worth $467,209,000 after acquiring an additional 481,885 shares during the last quarter. Finally, Hexavest Inc. bought a new position in PNC Financial Services Group during the 2nd quarter worth approximately $53,247,000. 80.33% of the stock is currently owned by institutional investors.
PNC traded down $1.44 during trading on Thursday, reaching $138.76. 2,936,828 shares of the company were exchanged, compared to its average volume of 2,061,360. The company has a 50-day simple moving average of $135.57. The stock has a market cap of $64.19 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.88. PNC Financial Services Group has a 12-month low of $108.45 and a 12-month high of $147.23.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, meeting the consensus estimate of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm posted $2.43 EPS. Equities analysts predict that PNC Financial Services Group will post 11.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, July 18th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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