The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $235.00

The PNC Financial Services Group (NYSE:PNC) had its target price upped by Wells Fargo & Company from $215.00 to $235.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their target price 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. 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 report on Thursday, August 15th. The Goldman Sachs Group decreased their target price on shares of 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. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Stephens increased their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Price Performance

PNC opened at $207.68 on Friday. The firm has a market cap of $82.40 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group has a fifty-two week low of $127.08 and a fifty-two week high of $214.19. The company’s 50-day moving average price is $188.25 and its 200 day moving average price is $173.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

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

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock valued at $5,277,493 over the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P lifted its position in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares in the last quarter. MFA Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after buying an additional 55 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares in the last quarter. Altman Advisors Inc. lifted its position in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its stake in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.