The price of The PNC Financial Services Group Inc. (NYSE:PNC) shares last traded on Wall Street rose 2.51% to $130.35.
Based on available information, 26 analysts follow The PNC Financial Services Group Inc. (NYSE:PNC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $176.00 and a low of $115.00, we find $143.00. Given the previous closing price of $127.16, this indicates a potential upside of 12.46 percent. PNC stock price is now 6.42% away from the 50-day moving average and -8.71% away from the 200-day moving average. The market capitalization of the company currently stands at $53.68B.
Among analysts, 10 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $141.74 as their price target over the next twelve months.
With the price target reduced from $157 to $125, Keefe Bruyette Downgraded its rating from Mkt Perform to Underperform for The PNC Financial Services Group Inc. (NYSE: PNC).
In other news, Salesky Bryan Scott, Director bought 400 shares of the company’s stock on Jun 07. The stock was bought for $50,840 at an average price of $127.10. Upon completion of the transaction, the Director now directly owns 410 shares in the company, valued at $53443.5. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 21, Director ALVARADO JOSEPH bought 1,000 shares of the business’s stock. A total of $123,895 was incurred on buying the stock at an average price of $123.89. This leaves the insider owning 1,100 shares of the company worth $0.14 million. Insiders disposed of 104,794 shares of company stock worth roughly $13.66 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 $84,378,000. D1 CAPITAL PARTNERS L.P. invested $44,171,000 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 $38,652,000. RHINO INVESTMENT PARTNERS, INC acquired a new stake in PNC for approximately $35,768,000. RUFFER LLP purchased a new stake in PNC valued at around $30,619,000 in the second quarter. In total, there are 1,856 active investors with 84.90% ownership of the company’s stock.
A candlestick chart of The PNC Financial Services Group Inc. (NYSE: PNC) showed a price of $125.01 on Tuesday morning. During the past 12 months, The PNC Financial Services Group Inc. has had a low of $110.31 and a high of $176.34. The fifty day moving average price for PNC is $122.83 and a two-hundred day moving average price translates $142.68 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 $5.45B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/05/2023. Investors who held shares on 07/17/2023 were paid a $1.55 dividend. On an annualized basis, this represents a $6.20 dividend and a 4.76% percent yield. There was an ex-dividend date of 07/14/2023 for this dividend. In terms of dividend payout ratio, PNC is presently at 41.10%.
