The stock of The PNC Financial Services Group Inc. (NYSE:PNC) last traded at $118.48, down -1.39% from the previous session.
Data from the available sources indicates that The PNC Financial Services Group Inc. (NYSE:PNC) is covered by 26 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $186.00 and a low of $118.00, we find $142.00. Given the previous closing price of $120.15, this indicates a potential upside of 18.19 percent. PNC stock price is now -3.87% away from the 50-day moving average and -21.24% away from the 200-day moving average. The market capitalization of the company currently stands at $47.95B.
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In total, 9 analysts have assigned it a hold rating, and 11 have given it a buy rating. Brokers who have rated the stock have averaged $143.12 as their price target over the next twelve months.
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In other news, ALVARADO JOSEPH, Director bought 1,000 shares of the company’s stock on Apr 21. The stock was bought for $123,895 at an average price of $123.89. Upon completion of the transaction, the Director now directly owns 1,100 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15, Executive Vice President Fallon Kieran John bought 1,000 shares of the business’s stock. A total of $125,450 was incurred on buying the stock at an average price of $125.45. This leaves the insider owning 12,046 shares of the company worth $1.43 million. Insiders disposed of 104,794 shares of company stock worth roughly $12.42 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PNC stock. A new stake in The PNC Financial Services Group Inc. shares was purchased by ARTISAN PARTNERS LIMITED PARTNERSHIP during the first quarter worth $76,694,000. D1 CAPITAL PARTNERS L.P. invested $40,149,000 in shares of PNC during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in The PNC Financial Services Group Inc. valued at approximately $35,132,000. RHINO INVESTMENT PARTNERS, INC acquired a new stake in PNC for approximately $32,511,000. RUFFER LLP purchased a new stake in PNC valued at around $27,831,000 in the second quarter. In total, there are 1,856 active investors with 84.90% ownership of the company’s stock.
With an opening price of $120.64 on Friday morning, The PNC Financial Services Group Inc. (NYSE: PNC) set off the trading day. During the past 12 months, The PNC Financial Services Group Inc. has had a low of $110.31 and a high of $176.47. The fifty day moving average price for PNC is $122.86 and a two-hundred day moving average price translates $150.20 for the stock.
The latest earnings results from The PNC Financial Services Group Inc. (NYSE: PNC) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $3.98, beating analysts’ expectations of $3.67 by 0.31. This compares to $3.23 EPS in the same period last year. The net profit margin was 32.70% and return on equity was 12.60% for PNC. The company reported revenue of $5.66 billion for the quarter, compared to $2.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 94.2 percent. For the current quarter, analysts expect PNC to generate $5.47B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/05/2023. Investors who held shares on 04/18/2023 were paid a $1.50 dividend. On an annualized basis, this represents a $6.00 dividend and a 5.06% percent yield. There was an ex-dividend date of 04/17/2023 for this dividend. In terms of dividend payout ratio, PNC is presently at 41.10%.
The PNC Financial Services Group Inc.(PNC) 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 certificates of 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. This segment serves consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. Its Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services, and access to online/mobile information management and reporting; securities underwriting, loan syndications, customer-related trading, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The company’s Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services for ultra high net worth individuals and their families. It also provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services for institutional clients. The company was founded in 1852 and is headquartered in Pittsburgh, Pennsylvania.
