The PNC Financial Services Group (NYSE:PNC) Upgraded to "Buy" at HSBC

HSBC upgraded shares of The PNC Financial Services Group (NYSE:PNC - Free Report) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat Ratings reports. They currently have $202.00 target price on the financial services provider's stock, down from their prior target price of $206.00.

Several other research analysts have also weighed in on PNC. Stephens reissued an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Piper Sandler upped their price objective on shares of 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. Wells Fargo & Company reduced their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Finally, Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and a consensus price target of $204.12.

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The PNC Financial Services Group Trading Up 1.5 %

PNC traded up $2.60 during trading on Monday, reaching $177.24. 2,116,157 shares of the company's stock were exchanged, compared to its average volume of 1,887,413. The company's fifty day moving average price is $186.98 and its 200-day moving average price is $192.18. 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 firm has a market capitalization of $70.14 billion, a PE ratio of 12.89, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.61%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the transaction, the chief executive officer now directly owns 564,815 shares of the company's stock, valued at approximately $98,718,365.70. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,559,389 in the last 90 days. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PNC. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after buying an additional 53 shares during the period. Transcend Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after buying an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its stake in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after acquiring an additional 56 shares during the period. Finally, Red Wave Investments LLC increased its holdings in shares of The PNC Financial Services Group by 3.1% during the 3rd quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider's stock worth $353,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

About The PNC Financial Services Group

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.