#6 - PNC Financial Services (NYSE:PNC)
The PNC Financial Services Group, Inc. (NYSE: PNC) has its headquarters in Pittsburgh, Pennsylvania but has a robust network of 2,300 branches that spans 19 states plus the District of Columbia. The bank has a market cap of $50 billion and although PNC stock took a hit along with many regional banks as a result of the collapse of Silcon Valley Bank, analysts remained favorable on the stock.
As of April 14, 2023, the bank was showing an increase in deposits and at a time when there are concerns of an earnings recession, PNC managed to post earnings of $3.98. This not only beat analysts’ expectations, but also came in ahead of the prior quarter. The bank currently pays a dividend that has a 4.8% yield and has been growing for the last 11 consecutive years.
The bank’s Common Equity Tier 1 ratio of 9.2 which was up slightly from the 9.1% the bank had posted in the prior year.
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.
More about The PNC Financial Services Group- Current Price
- $155.60
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $203.47 (30.8% Upside)
