Wolfe Research Reiterates “Peer Perform” Rating for The PNC Financial Services Group (NYSE:PNC)

Wolfe Research reiterated their peer perform rating on shares of The PNC Financial Services Group (NYSE:PNC) in a research note released on Thursday, MarketBeat.com reports.

Several other equities research analysts also recently commented on PNC. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Morgan Stanley cut their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their target price for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $206.35.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $195.10 on Thursday. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm’s 50-day simple moving average is $175.10 and its two-hundred day simple moving average is $180.09. The stock has a market cap of $77.18 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.49%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s payout ratio is 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction dated 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 directly owned 20,490 shares in the company, 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. In the last ninety days, insiders sold 10,787 shares of company stock worth $1,782,794. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the first quarter valued at approximately $27,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Cornerstone Planning Group LLC grew its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares during the period. REAP Financial Group LLC grew its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, Hoey Investments Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.