The Goldman Sachs Group Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Free Report) had its target price cut by The Goldman Sachs Group from $211.00 to $188.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

A number of other analysts have also recently commented on PNC. Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Compass Point boosted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Finally, Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $203.71.

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The PNC Financial Services Group Trading Down 0.0 %

NYSE:PNC traded down $0.06 on Wednesday, hitting $173.35. 5,500,275 shares of the stock were exchanged, compared to its average volume of 1,758,306. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $68.60 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The company's 50-day moving average price is $190.03 and its 200 day moving average price is $192.34. The PNC Financial Services Group has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 EPS. On average, equities research analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is presently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company's stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,369,165. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently made changes to their positions in PNC. Principal Financial Group Inc. raised its stake in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after acquiring an additional 22,271 shares during the period. Thrivent Financial for Lutherans raised its stake in The PNC Financial Services Group by 12.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider's stock valued at $6,857,000 after acquiring an additional 4,186 shares during the period. Pathstone Holdings LLC raised its stake in The PNC Financial Services Group by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider's stock valued at $12,593,000 after acquiring an additional 1,471 shares during the period. Caprock Group LLC raised its stake in The PNC Financial Services Group by 1.1% in the 3rd quarter. Caprock Group LLC now owns 19,809 shares of the financial services provider's stock valued at $3,662,000 after acquiring an additional 219 shares during the period. Finally, Premier Fund Managers Ltd bought a new position in The PNC Financial Services Group during the 3rd quarter worth $6,541,000. Institutional investors and hedge funds 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.