The Goldman Sachs Group Has Lowered Expectations for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price objective reduced by The Goldman Sachs Group from $211.00 to $188.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $203.71.

The PNC Financial Services Group Price Performance

PNC opened at $173.86 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $68.81 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average price is $190.77 and its two-hundred day moving average price is $192.43. The PNC Financial Services Group has a 1 year low of $143.52 and a 1 year high of $216.26.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.16 EPS. As a group, analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $193.62, for a total transaction of $240,476.04. Following the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 13,662 shares of company stock worth $2,604,263 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P increased its position in shares of The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.4% during 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 worth $434,000 after purchasing an additional 53 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares in the last quarter. 83.53% of the stock is currently 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.