The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $215.00

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by Wells Fargo & Company from $204.00 to $215.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. UBS Group lifted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Barclays boosted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

PNC opened at $189.92 on Wednesday. The firm has a market capitalization of $75.57 billion, a PE ratio of 15.95, a PEG ratio of 2.01 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $196.64. The firm’s 50-day moving average price is $180.07 and its 200 day moving average price is $166.78.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that The PNC Financial Services Group will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the transaction, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the transaction, the chief executive officer now directly owns 562,153 shares in the company, valued at approximately $99,315,570.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,662 shares of company stock valued at $4,442,555 over the last three months. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the stock. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 0.5% during the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after buying an additional 18,397 shares during the period. Legal & General Group Plc raised its position in The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after acquiring an additional 223,955 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after purchasing an additional 100,993 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.