The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $247.00

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by Keefe, Bruyette & Woods from $228.00 to $247.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other research analysts have also weighed in on PNC. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Barclays lifted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Oppenheimer reduced their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, UBS Group increased their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.00.

The PNC Financial Services Group Stock Down 1.6%

Shares of NYSE PNC opened at $221.98 on Tuesday. The company’s 50 day moving average price is $205.70 and its 200-day moving average price is $198.05. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $227.78. The company has a market capitalization of $87.05 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.77 earnings per share. Equities analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% 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. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNC. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 2nd quarter valued at $27,000. Beacon Financial Strategies CORP purchased a new position in The PNC Financial Services Group during the 4th quarter worth $35,000. Concord Wealth Partners boosted its holdings in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $34,000. 83.53% of the stock is owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.