The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $180.00

The PNC Financial Services Group (NYSE:PNC) had its price objective raised by Morgan Stanley from $177.00 to $180.00 in a report released on Wednesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the financial services provider’s stock.

PNC has been the topic of several other reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group lowered 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 research report on Wednesday, September 11th. Citigroup lifted their target price 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. Finally, Keefe, Bruyette & Woods increased 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 note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Trading Up 0.3 %

NYSE:PNC opened at $189.38 on Wednesday. The company has a market cap of $75.28 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $196.64. The business has a 50 day moving average price of $180.83 and a two-hundred day moving average price of $167.13. 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 issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating 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 firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that The PNC Financial Services Group will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the sale, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,420 shares of company stock valued at $4,223,131. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $12,548,000. Integrated Advisors Network LLC grew its position in The PNC Financial Services Group by 7.3% in the fourth quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 148 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in The PNC Financial Services Group during the second quarter worth about $822,000. Equity Investment Corp lifted its holdings in shares of The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP boosted its stake in shares of The PNC Financial Services Group by 108.5% in the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after purchasing an additional 10,743 shares in the last quarter. 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.