Analysts Set The PNC Financial Services Group, Inc. (NYSE:PNC) Target Price at $177.02 (2024)

Posted by ABMN Staff on Aug 31st, 2024

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Free Report) have received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $177.02.

PNC has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd.

Read Our Latest Stock Analysis on PNC

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $185.17 on Wednesday. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $185.57. The firm has a market cap of $73.68 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15. The company’s 50-day moving average is $169.52 and its two-hundred day moving average is $159.10. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 earnings per share. Research analysts expect that The PNC Financial Services Group will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders have sold 24,021 shares of company stock valued at $4,190,611 in the last quarter. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of PNC. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $26,000. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Fortis Group Advisors LLC grew its position in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

(Get Free Report

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.

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Analysts Set The PNC Financial Services Group, Inc. Target Price at $177.02