The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $284.00

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Oppenheimer from $268.00 to $284.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen increased their price objective on The PNC Financial Services Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Truist Financial raised their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Barclays lifted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.00.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $221.98 on Tuesday. The firm has a market capitalization of $87.05 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.94 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $205.70 and its 200-day moving average price is $198.05. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $227.78.

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

The PNC Financial Services Group Announces Dividend

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

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. Quarry LP bought a new position in The PNC Financial Services Group during the third quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the second quarter valued at $27,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $35,000. Concord Wealth Partners raised its holdings in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, Westfuller Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $34,000. Institutional investors own 83.53% of the company’s stock.

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.