The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $264.00

The PNC Financial Services Group (NYSE:PNC) had its price target lifted by Wells Fargo & Company from $252.00 to $264.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently commented on PNC. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Oppenheimer reduced their price target on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $231.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $221.98 on Tuesday. The PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $227.78. The stock’s 50-day simple moving average is $205.70 and its 200 day simple moving average is $198.05. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $87.05 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the firm earned $3.77 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be given a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is 40.99%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors have recently modified their holdings of PNC. Brighton Jones LLC raised its stake in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 1,449 shares during the last quarter. Farther Finance Advisors LLC raised its position in The PNC Financial Services Group by 49.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,695 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,228 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in The PNC Financial Services Group by 7.4% in the second quarter. Park Avenue Securities LLC now owns 11,360 shares of the financial services provider’s stock worth $2,118,000 after purchasing an additional 784 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.