The PNC Financial Services Group (NYSE:PNC) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of The PNC Financial Services Group (NYSE:PNC) from an underperform rating to an outperform rating in a research report released on Friday morning, Price Targets.com reports. The brokerage currently has $252.00 price target on the financial services provider’s stock, up from their previous price target of $194.00.

Several other research analysts also recently weighed in on the stock. Credit Suisse Group upped their target price on shares of The PNC Financial Services Group from $170.00 to $178.00 and gave the company a neutral rating in a research note on Monday, April 19th. Citigroup increased their target price on shares of The PNC Financial Services Group from $179.00 to $210.00 in a report on Tuesday, April 20th. Evercore ISI initiated coverage on shares of The PNC Financial Services Group in a report on Wednesday, June 2nd. They issued an outperform rating on the stock. Robert W. Baird reiterated a buy rating on shares of The PNC Financial Services Group in a research report on Tuesday, April 20th. Finally, Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $230.00 to $232.00 and gave the company an overweight rating in a research note on Tuesday, May 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $182.76.

The PNC Financial Services Group stock opened at $192.79 on Friday. The PNC Financial Services Group has a 52-week low of $97.09 and a 52-week high of $203.88. The stock has a fifty day simple moving average of $191.56. The firm has a market capitalization of $81.91 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.09 and a beta of 1.39. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $1.35. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.10 billion. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group will post 13.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 5th. Stockholders of record on Friday, July 16th will be issued a $1.25 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 72.33%.

A number of hedge funds have recently modified their holdings of the stock. Scott & Selber Inc. boosted its holdings in The PNC Financial Services Group by 0.7% during the 1st quarter. Scott & Selber Inc. now owns 7,482 shares of the financial services provider’s stock valued at $1,312,000 after acquiring an additional 52 shares during the period. Avestar Capital LLC boosted its holdings in The PNC Financial Services Group by 3.0% during the 1st quarter. Avestar Capital LLC now owns 1,807 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 53 shares during the period. Avidian Wealth Solutions LLC boosted its holdings in The PNC Financial Services Group by 2.2% during the 1st quarter. Avidian Wealth Solutions LLC now owns 2,424 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 53 shares during the period. Interchange Capital Partners LLC boosted its holdings in The PNC Financial Services Group by 2.2% during the 1st quarter. Interchange Capital Partners LLC now owns 2,466 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 54 shares during the period. Finally, Cooper Financial Group boosted its holdings in The PNC Financial Services Group by 3.1% during the 1st quarter. Cooper Financial Group now owns 1,891 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 57 shares during the period. Institutional investors own 81.39% 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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

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