Weekly Investment Analysts’ Ratings Updates for The PNC Financial Services Group (PNC)

by · The Markets Daily

A number of firms have modified their ratings and price targets on shares of The PNC Financial Services Group (NYSE: PNC) recently:

  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Morgan Stanley from $177.00 to $180.00. They now have an “underweight” rating on the stock.
  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Keefe, Bruyette & Woods from $180.00 to $182.00. They now have an “underperform” rating on the stock.
  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Barclays PLC from $209.00 to $229.00. They now have an “overweight” rating on the stock.
  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Wells Fargo & Company from $204.00 to $215.00. They now have an “overweight” rating on the stock.
  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Evercore ISI from $212.00 to $225.00. They now have an “outperform” rating on the stock.
  • 10/16/2024 – The PNC Financial Services Group had its price target raised by analysts at Stephens from $185.00 to $200.00. They now have an “equal weight” rating on the stock.
  • 10/2/2024 – The PNC Financial Services Group had its price target raised by analysts at Evercore ISI from $203.00 to $212.00. They now have an “outperform” rating on the stock.
  • 9/11/2024 – The PNC Financial Services Group had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $189.00 to $180.00. They now have a “neutral” rating on the stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $1.12 during midday trading on Friday, reaching $187.15. The stock had a trading volume of 1,790,780 shares, compared to its average volume of 1,854,446. The firm has a market capitalization of $74.39 billion, a PE ratio of 15.82, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average price is $183.75 and its 200 day moving average price is $169.08. The PNC Financial Services Group, Inc. has a 12 month low of $114.51 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the firm posted $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.42%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was 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 in the company, valued at $170,299.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares of the company’s stock, valued at approximately $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,279 shares of company stock worth $2,418,591. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently modified their holdings of PNC. ORG Partners LLC raised its holdings in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co bought a new position in The PNC Financial Services Group in the second quarter worth about $26,000. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $29,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. 83.53% of the stock is owned by institutional investors.

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.

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