The PNC Financial Services Group (NYSE:PNC) Given New $188.00 Price Target at The Goldman Sachs Group

The PNC Financial Services Group (NYSE:PNC) had its price target decreased by The Goldman Sachs Group from $211.00 to $188.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on PNC. Barclays raised their price target on shares of 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. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $203.71.

The PNC Financial Services Group Trading Up 0.3 %

PNC opened at $173.86 on Wednesday. The company’s 50 day moving average is $190.77 and its 200-day moving average is $192.43. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $68.81 billion, a P/E ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the sale, the chief executive officer now owns 528,797 shares of the company’s stock, valued at $102,385,675.14. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 13,662 shares of company stock valued at $2,604,263 in the last quarter. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the period. State Street Corp grew its position in The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares during the period. Franklin Resources Inc. grew its position in The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after purchasing an additional 549,278 shares during the period. Geode Capital Management LLC grew its position in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. 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.