The PNC Financial Services Group (NYSE:PNC) PT Raised to $212.00

The PNC Financial Services Group (NYSE:PNC) had its target price raised by Evercore ISI from $203.00 to $212.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the stock. Compass Point downgraded shares of The PNC Financial Services Group from a strong-buy rating to a hold rating in a report on Thursday, August 22nd. Barclays raised their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an overweight rating in a research note on Wednesday, July 17th. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a neutral rating for the company in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an underperform rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $177.65.

The PNC Financial Services Group Stock Up 2.2 %

PNC opened at $182.26 on Wednesday. The stock has a fifty day moving average of $178.13 and a 200-day moving average of $165.08. The company has a market capitalization of $72.52 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group will post 13.14 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at approximately $90,341,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,824 shares of company stock worth $4,580,223. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors have recently made changes to their positions in the stock. Edge Capital Group LLC boosted its stake in The PNC Financial Services Group by 6.1% in the 4th quarter. Edge Capital Group LLC now owns 2,641 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 152 shares during the period. Capital Research Global Investors boosted its position in shares of The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after acquiring an additional 778,264 shares during the period. Tower Research Capital LLC TRC grew its stake in The PNC Financial Services Group by 289.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 55,332 shares of the financial services provider’s stock valued at $8,568,000 after acquiring an additional 41,115 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in The PNC Financial Services Group by 43.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 25,808 shares of the financial services provider’s stock worth $3,996,000 after acquiring an additional 7,786 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in The PNC Financial Services Group by 5.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 12,480 shares of the financial services provider’s stock worth $1,933,000 after purchasing an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.