The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $263.00 by Analysts at Oppenheimer

The PNC Financial Services Group (NYSE:PNC) had its target price trimmed by Oppenheimer from $284.00 to $263.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

PNC has been the topic of several other reports. Truist Financial upped their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Royal Bank Of Canada increased their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Barclays raised their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, TD Cowen boosted their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.16.

The PNC Financial Services Group Trading Down 1.5%

Shares of NYSE:PNC opened at $202.46 on Friday. The firm has a fifty day moving average of $218.90 and a two-hundred day moving average of $205.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $243.94. The firm has a market capitalization of $81.66 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The PNC Financial Services Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.77 earnings per share. On average, equities analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This represents a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 64,186 shares of company stock worth $14,840,973. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $1,967,080,000. Viking Global Investors LP raised its stake in The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after purchasing an additional 5,581,102 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in The PNC Financial Services Group by 961.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock valued at $549,023,000 after purchasing an additional 2,382,552 shares during the period. Deutsche Bank AG boosted its holdings in The PNC Financial Services Group by 108.2% in the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock valued at $800,884,000 after purchasing an additional 1,994,431 shares during the period. Finally, AQR Capital Management LLC grew its position in The PNC Financial Services Group by 134.9% during the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after buying an additional 1,917,530 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group News Roundup

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Jefferies initiated/expanded coverage and raised its stance—setting a $250 price target and issuing a buy/strong-buy—boosting demand from investors who follow sell-side coverage. Zacks Jefferies Coverage MSN Jefferies Initiates
• Positive Sentiment: Schaeffer’s Weekend Trader flagged PNC as “poised for a relief rally” and circulated a specific options trade idea to subscribers—this type of options flow and positive trading idea can attract short-term traders and provide buying support. Schaeffer’s Article
• Positive Sentiment: Analyst consensus remains constructive—coverage summary shows a “moderate buy” consensus and analysts expect double-digit EPS growth into the next quarter, which supports medium-term fundamentals ahead of earnings. Analyst Consensus Earnings Preview
• Neutral Sentiment: Independent reviews and write-ups are circulating (analyst review sites and banking news) that summarize fundamentals and recent results—useful for retail investors but unlikely to move the stock materially on their own. Review Article
• Negative Sentiment: Oppenheimer trimmed its price target from $284 to $263 while keeping an “outperform” rating; the cut reduces upside expectations versus prior targets and can temper upside momentum even though the rating stayed positive. Benzinga Oppenheimer Note

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.