The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $210.00 at The Goldman Sachs Group

The PNC Financial Services Group (NYSE:PNC) had its price target raised by The Goldman Sachs Group from $190.00 to $210.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

PNC has been the topic of a number of other research reports. Piper Sandler upped their target price 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. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $195.84.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $208.62 on Friday. The firm has a market cap of $82.78 billion, a PE ratio of 17.63, a PEG ratio of 2.18 and a beta of 1.15. The firm has a fifty day moving average of $196.11 and a 200 day moving average of $177.92. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a one year low of $139.19 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 earnings per share. As a group, research analysts predict that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.07%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the sale, the chief executive officer now owns 548,491 shares of the company’s stock, valued at $99,468,842.85. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock valued at $5,613,814 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC grew its stake in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Valley Wealth Managers Inc. increased its stake in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. GPS Wealth Strategies Group LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $38,000. Finally, Quarry LP raised its holdings in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 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.