The PNC Financial Services Group (NYSE:PNC) Shares Up 2.6%

The PNC Financial Services Group, Inc. (NYSE:PNC) rose 2.6% during trading on Friday . The stock traded as high as $152.09 and last traded at $151.74. Approximately 700,535 shares were traded during trading, a decline of 67% from the average daily volume of 2,123,645 shares. The stock had previously closed at $147.89.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PNC shares. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. UBS Group raised their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Price Performance

The stock has a market cap of $60.63 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The business has a 50 day simple moving average of $151.80 and a 200-day simple moving average of $141.72.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.98 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.07%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the business. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $28,000. Finally, Fortis Group Advisors LLC lifted its holdings in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. 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.