The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) ‘s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as $ 151.28 and last traded at $ 152.74, with a volume of 17251 shares trading hands. The stock had previously closed at $ 156.51.
Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $ 209.00 to $ 196.00 and set an “underweight” rating for the company in a research report on Monday, March 28th. Piper Sandler reduced their target price on shares of The PNC Financial Services Group from $ 215.00 to $ 201.00 and set a “neutral” rating for the company in a research report on Friday, April 1st. Raymond James reduced their target price on shares of The PNC Financial Services Group from $ 215.00 to $ 210.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. Finally, Wolfe Research cut their price objective on shares of The PNC Financial Services Group from $ 223.00 to $ 177.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $ 215.29.
The firm has a fifty day moving average of $ 167.61 and a two-hundred day moving average of $ 188.93. The company has a market cap of $ 63.73 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54.
The PNC Financial Services Group (NYSE: PNC – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The financial services provider reported $ 3.29 earnings per share for the quarter, topping the estimate consensus of $ 2.78 by $ 0.51. The PNC Financial Services Group had a return on equity of 12.43% and a net margin of 26.14%. The company had revenue of $ 4.69 billion during the quarter, compared to analyst estimates of $ 4.72 billion. During the same quarter last year, the firm posted $ 4.10 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 14.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Wednesday, April 13th were paid a $ 1.50 dividend. The ex-dividend date was Tuesday, April 12th. This represents a $ 6.00 annualized dividend and a yield of 3.89%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $ 1.25. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 50.76%.
In related news, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $ 170.56, for a total value of $ 214,393.92. Following the completion of the sale, the executive vice president now owns 23,360 shares in the company, valued at approximately $ 3,984,281.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert A. Niblock bought 2,000 shares of the company stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $ 167.07 per share, with a total value of $ 334,140.00. Following the transaction, the director now directly owns 6,063 shares in the company, valued at $ 1,012,945.41. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in The PNC Financial Services Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 37,277,399 shares of the financial services provider’s stock worth $ 6,875,816,000 after purchasing an additional 349,470 shares during the period. BlackRock Inc. increased its stake in The PNC Financial Services Group by 2.0% in the 1st quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock worth $ 5,637,484,000 after purchasing an additional 589,293 shares during the period. State Street Corp increased its stake in The PNC Financial Services Group by 2.8% in the 4th quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock worth $ 3,951,231,000 after purchasing an additional 536,564 shares during the period. Capital Research Global Investors increased its stake in shares of The PNC Financial Services Group by 1.2% during the first quarter. Capital Research Global Investors now owns 17,152,726 shares of the financial services provider’s stock valued at $ 3,163,834,000 after buying an additional 195,172 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 6,874,797 shares of the financial services provider’s stock valued at $ 1,374,503,000 after buying an additional 139,102 shares during the period. 83.54% of the stock is currently owned by institutional investors and hedge funds.
The PNC Financial Services Group Company Profile: (NYSE: PNC)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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