The PNC Financial Services Group, Inc (NYSE:PNC) Receives Consensus Rating of “Moderate Buy” from Analysts

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $265.7250.

A number of research analysts have issued reports on PNC shares. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Bank of America boosted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Barclays increased their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th.

The PNC Financial Services Group Trading Up 1.0%

PNC stock opened at $254.31 on Wednesday. The business has a fifty day moving average price of $241.54 and a 200 day moving average price of $226.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group has a fifty-two week low of $176.88 and a fifty-two week high of $256.49. The stock has a market capitalization of $102.12 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.00 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm earned $3.85 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. Analysts expect that The PNC Financial Services Group will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.1%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,300 shares of company stock valued at $10,694,574. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the stock. Cvfg LLC raised its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 43 shares during the period. Trust Asset Management LLC boosted its holdings in shares of The PNC Financial Services Group by 1.0% during the second quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after acquiring an additional 43 shares during the period. YANKCOM Partnership grew its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC grew its position in shares of The PNC Financial Services Group by 26.9% in the fourth 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 last quarter. Finally, Baron Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 46 shares during the last quarter. 83.53% of the stock is 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.