Evercore ISI Raises The PNC Financial Services Group (NYSE:PNC) Price Target to $225.00

The PNC Financial Services Group (NYSE:PNC) had its price target upped by Evercore ISI from $212.00 to $225.00 in a report issued on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

PNC has been the topic of several other reports. Keefe, Bruyette & Woods increased 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 report on Wednesday. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group upped their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Citigroup upped their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $189.38 on Wednesday. The company’s 50-day simple moving average is $180.83 and its two-hundred day simple moving average is $167.13. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $196.64. The company has a market capitalization of $75.28 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.60%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s 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 directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at $102,729,288.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock valued at $4,223,131 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in PNC. Integrated Advisors Network LLC lifted its holdings in shares of The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after buying an additional 148 shares during the period. EP Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 16.0% in the fourth quarter. EP Wealth Advisors LLC now owns 3,293 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 453 shares during the period. Nomura Holdings Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $1,243,000. Los Angeles Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 526.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 12,888 shares of the financial services provider’s stock worth $2,083,000 after purchasing an additional 10,831 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of The PNC Financial Services Group by 7.5% during the 1st quarter. GAMMA Investing LLC now owns 1,895 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 133 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.