The PNC Financial Services Group (NYSE:PNC) Upgraded to “Hold” at HSBC

HSBC upgraded shares of The PNC Financial Services Group (NYSE:PNC) from a reduce rating to a hold rating in a report issued on Thursday, Marketbeat Ratings reports. HSBC currently has $155.00 price objective on the financial services provider’s stock, up from their previous price objective of $141.00.

A number of other brokerages have also recently issued reports on PNC. Piper Sandler boosted their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a neutral rating in a report on Friday, December 8th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an underweight rating in a report on Tuesday, January 30th. Odeon Capital Group upgraded The PNC Financial Services Group from a hold rating to a buy rating and set a $153.38 price target for the company in a research note on Thursday, December 14th. Stephens reiterated an equal weight rating and issued a $138.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a neutral rating in a research note on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $152.87.

The PNC Financial Services Group Trading Up 1.0 %

The PNC Financial Services Group stock opened at $161.63 on Thursday. The PNC Financial Services Group has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $64.30 billion, a P/E ratio of 12.64, a PEG ratio of 1.84 and a beta of 1.17. The stock has a 50-day simple moving average of $149.96 and a 200 day simple moving average of $138.25.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company posted $3.49 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Analysts expect that The PNC Financial Services Group will post 12.41 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were paid a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.84%. The PNC Financial Services Group’s dividend payout ratio is 48.48%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Institutional Trading of The PNC Financial Services Group

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $1,039,481,000. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares in the last quarter. Capital International Investors boosted its position in shares of The PNC Financial Services Group by 14.4% during the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of The PNC Financial Services Group by 28.7% during the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.