The PNC Financial Services Group (NYSE:PNC) Given New $208.00 Price Target at Truist Financial

The PNC Financial Services Group (NYSE:PNC) had its price target decreased by Truist Financial from $216.00 to $208.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other research firms have also weighed in on PNC. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley increased 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 research note on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.18.

The PNC Financial Services Group Price Performance

PNC stock opened at $152.85 on Friday. The company’s 50-day moving average price is $184.93 and its two-hundred day moving average price is $191.66. The firm has a market cap of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) 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 business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $3.16 earnings per share. On average, analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 12,420 shares of company stock worth $2,320,739 over the last quarter. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. 83.53% of the stock is currently owned by institutional investors.

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.