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

HSBC upgraded shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a buy rating in a research note published on Monday morning, Marketbeat.com reports. HSBC currently has $202.00 price target on the financial services provider’s stock, down from their prior price target of $206.00.

A number of other brokerages also recently weighed in on PNC. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $204.12.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $177.24 on Monday. The firm has a market cap of $70.14 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a 50 day moving average of $186.59 and a 200-day moving average of $192.07.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 EPS. On average, equities analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the transaction, the chief executive officer now owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 13,662 shares of company stock worth $2,559,389. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $30,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth about $32,000. 83.53% of the stock is owned by institutional investors.

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.