The PNC Financial Services Group (NYSE:PNC) Given New $182.00 Price Target at Keefe, Bruyette & Woods

The PNC Financial Services Group (NYSE:PNC) had its price objective lifted by Keefe, Bruyette & Woods from $180.00 to $182.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on PNC. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays boosted their price objective on 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. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday. UBS Group boosted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Stock Performance

PNC stock opened at $189.92 on Wednesday. The business has a 50 day moving average of $180.07 and a 200-day moving average of $166.78. The firm has a market cap of $75.57 billion, a PE ratio of 15.95, a P/E/G ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $196.64. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

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

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the sale, the chief executive officer now owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred 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 owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the transaction, the chief executive officer now owns 547,249 shares in the company, valued at $101,241,065. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,662 shares of company stock worth $4,442,555 in the last quarter. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

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