The PNC Financial Services Group (NYSE:PNC) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note published on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $233.00 target price on the financial services provider’s stock.

A number of other analysts also recently commented on PNC. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. decreased their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $179.45 on Thursday. The company has a market cap of $70.98 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $216.26. The business has a 50 day moving average price of $164.86 and a 200-day moving average price of $186.20. 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 (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities 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 business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 45.20%.

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 on Friday, May 9th. The stock was sold at an average price of $166.79, for a total value of $207,153.18. Following the completion of the transaction, the chief executive officer now directly owns 557,363 shares of the company’s stock, valued at $92,962,574.77. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,396 shares of company stock valued at $2,789,603 over the last three months. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently made changes to their positions in the stock. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $25,000. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the first quarter valued at $27,000. 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 valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $30,000. Finally, Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $32,000. 83.53% of the stock is 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.