The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $235.00

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Citigroup from $200.00 to $235.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

PNC has been the topic of a number of other reports. Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” 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 raised their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. The Goldman Sachs Group decreased their target price on shares of 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. Finally, 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 research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $189.15.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $215.00 on Monday. The stock has a market cap of $85.31 billion, a PE ratio of 18.17, a P/E/G ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $192.94 and a 200-day moving average of $175.90. The PNC Financial Services Group has a 52-week low of $127.83 and a 52-week high of $216.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $181.35, for a total transaction of $225,236.70. Following the sale, the chief executive officer now directly owns 548,491 shares in the company, valued at $99,468,842.85. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock valued at $5,573,027 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently made changes to their positions in PNC. Franklin Resources Inc. lifted its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares during the period. Synovus Financial Corp increased its position in The PNC Financial Services Group by 3.7% during the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after purchasing an additional 509 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in The PNC Financial Services Group by 86.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock worth $6,367,000 after purchasing an additional 15,962 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 3.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock valued at $18,098,000 after purchasing an additional 3,595 shares during the last quarter. Finally, Wealthquest Corp acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $212,000. Institutional investors own 83.53% of the company’s stock.

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.