The PNC Financial Services Group (NYSE:PNC) Given New $220.00 Price Target at Piper Sandler

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Piper Sandler from $200.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on PNC. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Stephens boosted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $193.96.

The PNC Financial Services Group Stock Down 1.1 %

Shares of NYSE PNC opened at $209.02 on Tuesday. The PNC Financial Services Group has a 52 week low of $136.40 and a 52 week high of $216.26. The stock’s fifty day moving average is $195.08 and its 200 day moving average is $177.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $82.93 billion, a P/E ratio of 17.67, a PEG ratio of 2.21 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. Sell-side analysts forecast that The PNC Financial Services Group will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,613,814 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors have recently modified their holdings of the business. ORG Partners LLC grew its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group during the second quarter worth about $33,000. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the period. GPS Wealth Strategies Group LLC purchased a new position in The PNC Financial Services Group in the second quarter valued at about $38,000. Finally, Quarry LP grew its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares during the period. 83.53% of the stock is owned by institutional investors.

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.