Compass Point Forecasts Strong Price Appreciation for The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group (NYSE:PNC) had its price objective increased by Compass Point from $175.00 to $233.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research firms also recently commented on PNC. Piper Sandler upped their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $198.02.

The PNC Financial Services Group Trading Down 0.0 %

NYSE PNC opened at $204.46 on Tuesday. The stock has a 50-day simple moving average of $197.02 and a 200 day simple moving average of $178.93. The company has a market capitalization of $81.13 billion, a PE ratio of 17.28, a P/E/G ratio of 2.18 and a beta of 1.15. The company has a current ratio of 0.81, a quick 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.60 earnings per share. Research analysts forecast that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.13%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,030 shares of company stock valued at $5,873,691. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNC. Loomis Sayles & Co. L P lifted its position in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the last quarter. MFA Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after buying an additional 55 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after buying an additional 56 shares during the last quarter. Altman Advisors Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after buying an additional 57 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.