The PNC Financial Services Group (NYSE:PNC) Sets New 1-Year Low at $122.72

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) reached a new 52-week low on Wednesday . The stock traded as low as $122.72 and last traded at $125.25, with a volume of 1261538 shares traded. The stock had previously closed at $130.53.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PNC shares. Robert W. Baird decreased their price objective on shares of The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, January 19th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 price objective on the stock in a research report on Tuesday, January 10th. Citigroup upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Monday. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $150.00 to $164.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $200.00 to $190.00 in a research report on Friday, January 6th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.36.

The PNC Financial Services Group Stock Performance

The stock has a market cap of $52.01 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.79 and a quick ratio of 0.79. The business has a 50 day moving average price of $156.01 and a two-hundred day moving average price of $157.17.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The company had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.71 billion. The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.86 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 14.66 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Friday, January 13th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.26%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak purchased 6,550 shares of the company’s stock in a transaction that occurred on Friday, January 20th. The stock was bought at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the purchase, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at approximately $74,070,883.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other The PNC Financial Services Group news, CEO William S. Demchak purchased 6,550 shares of the company’s stock in a transaction that occurred on Friday, January 20th. The stock was bought at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the purchase, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at approximately $74,070,883.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $129.70 per share, with a total value of $129,700.00. Following the purchase, the chief executive officer now directly owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in The PNC Financial Services Group by 0.5% during the third quarter. Vanguard Group Inc. now owns 37,505,547 shares of the financial services provider’s stock valued at $5,604,078,000 after buying an additional 198,950 shares during the period. State Street Corp lifted its position in The PNC Financial Services Group by 3.3% during the third quarter. State Street Corp now owns 18,436,065 shares of the financial services provider’s stock valued at $2,754,717,000 after buying an additional 595,811 shares during the period. Price T Rowe Associates Inc. MD lifted its position in The PNC Financial Services Group by 21.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,413,715 shares of the financial services provider’s stock valued at $2,116,282,000 after buying an additional 2,373,814 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares during the period. Finally, Bank of America Corp DE lifted its position in The PNC Financial Services Group by 0.4% during the fourth quarter. Bank of America Corp DE now owns 9,264,839 shares of the financial services provider’s stock valued at $1,463,289,000 after buying an additional 36,414 shares during the period. Hedge funds and other institutional investors own 82.05% of the company’s stock.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.