The PNC Financial Services Group (NYSE:PNC) Upgraded to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on PNC. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $204.12.

The PNC Financial Services Group Stock Up 2.3 %

NYSE:PNC opened at $175.87 on Monday. The PNC Financial Services Group has a 1 year low of $143.52 and a 1 year high of $216.26. The stock has a 50-day moving average price of $187.46 and a two-hundred day moving average price of $192.20. The stock has a market cap of $69.60 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at $97,093,223.85. This represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock worth $2,342,313. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of the business. Mechanics Financial Corp bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $739,000. Premier Fund Managers Ltd increased its stake in The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after acquiring an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the period. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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, and investment and cash management services.