The PNC Financial Services Group’s (PNC) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of The PNC Financial Services Group (NYSE:PNC) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $235.00 price objective on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. TD Cowen boosted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $251.00 to $237.50 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Truist Financial raised their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.69.

The PNC Financial Services Group Stock Up 2.7%

PNC stock traded up $5.98 during midday trading on Wednesday, hitting $226.05. The company’s stock had a trading volume of 764,062 shares, compared to its average volume of 2,723,456. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.00. The PNC Financial Services Group has a 12 month low of $148.28 and a 12 month high of $243.94. The company has a market cap of $91.18 billion, a PE ratio of 13.14, a P/E/G ratio of 1.02 and a beta of 0.96. The firm’s 50-day moving average is $216.08 and its 200-day moving average is $206.34.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company earned $3.51 EPS. The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares in the company, valued at $4,940,179.20. The trade was a 10.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 in the last three months. 0.38% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of PNC. Cvfg LLC boosted its stake in shares of The PNC Financial Services Group by 2.5% in the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC boosted its position in The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares during the period. Baron Wealth Management LLC grew its stake in The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after buying an additional 46 shares during the last quarter. Finally, Atom Investors LP grew its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Key Headlines Impacting The PNC Financial Services Group

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

• Positive Sentiment: Q1 earnings beat and operating momentum — PNC reported an EPS beat and double?digit revenue and loan growth, driven by higher net interest income after the FirstBank deal; management raised forward guidance for NII and loan growth. Article Title
• Positive Sentiment: Multiple analyst price?target raises and positive ratings — Major firms raised targets (Barclays, Oppenheimer, Morgan Stanley, Bank of America, Keefe Bruyette & Woods, Truist) and some upgraded to overweight/buy, increasing implied upside for the stock. Article Title
• Positive Sentiment: Bank of America and Keefe Bruyette & Woods published positive forecasts — Additional outside-bank research added buy/positive commentary that supports near?term investor sentiment. Bank of America Forecast Keefe Bruyette & Woods Forecast
• Neutral Sentiment: Management commentary / macro view — PNC’s chief strategist appeared on TV discussing broader equity prospects, which may support risk?on interest in bank stocks but is market?directional rather than PNC?specific. Yung-Yu Ma Interview
• Neutral Sentiment: Clarification on private?credit exposure — PNC disclosed details on its exposure to private business lenders and receivables securitizations (helpful for transparency; not an immediate earnings shock). Private Business Lender Update
• Negative Sentiment: Rising expenses tied to integration — PNC flagged higher operating expenses from FirstBank integration and other costs that could pressure near?term margins despite NII gains. Integration Costs Article

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.