The PNC Financial Services Group (NYSE:PNC) Given New $235.00 Price Target at Wells Fargo & Company

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

Several other brokerages also recently issued reports on PNC. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Morgan Stanley lifted 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 report on Wednesday, October 16th. Barclays lifted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Stephens raised 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 research 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 given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $207.68 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $82.40 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.17 and a beta of 1.13. The company’s fifty day moving average is $188.25 and its two-hundred day moving average is $173.07. The PNC Financial Services Group has a 52-week low of $127.08 and a 52-week high of $214.19.

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 analysts’ consensus estimates of $3.30 by $0.19. The company 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 net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.60 EPS. Equities research analysts forecast that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now directly owns 546,007 shares in the company, valued at approximately $104,052,553.99. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,546 shares of company stock valued at $5,277,493. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Capital International Investors boosted its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 purchasing an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 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.