Truist Financial Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by Truist Financial from $215.00 to $216.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Compass Point boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE PNC opened at $198.36 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a market cap of $78.71 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The business has a fifty day simple moving average of $201.51 and a 200-day simple moving average of $186.74.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,928,202 over the last 90 days. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its position in shares of The PNC Financial Services Group by 9.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock valued at $4,588,000 after acquiring an additional 2,670 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in The PNC Financial Services Group by 7.3% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,387 shares of the financial services provider’s stock valued at $2,081,000 after purchasing an additional 908 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of The PNC Financial Services Group by 216.5% in the 2nd quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock worth $7,112,000 after buying an additional 31,289 shares in the last quarter. XTX Topco Ltd bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $512,000. Finally, MQS Management LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $487,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.