Wolfe Research Reiterates Peer Perform Rating for The PNC Financial Services Group (NYSE:PNC)

Wolfe Research restated their peer perform rating on shares of The PNC Financial Services Group (NYSE:PNC) in a research note issued to investors on Thursday morning, MarketBeat.com reports.

Several other research analysts have also weighed in on the company. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Barclays cut their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Truist Financial cut their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup cut their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.35.

The PNC Financial Services Group Stock Performance

PNC stock opened at $195.10 on Thursday. The business’s 50-day moving average price is $175.83 and its two-hundred day moving average price is $179.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The firm has a market cap of $77.18 billion, a PE ratio of 13.78, a P/E/G ratio of 1.66 and a beta of 1.07. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. As a group, research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president directly owned 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors have recently bought and sold shares of PNC. Brighton Jones LLC increased its position in 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 buying an additional 984 shares during the last quarter. Fisher Asset Management LLC increased its position in The PNC Financial Services Group by 4.0% during the fourth quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider’s stock worth $721,000 after buying an additional 143 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $191,000. Steward Partners Investment Advisory LLC increased its position in The PNC Financial Services Group by 40.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,674 shares of the financial services provider’s stock worth $3,023,000 after buying an additional 4,515 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its position in The PNC Financial Services Group by 209.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,690 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 3,851 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.