The PNC Financial Services Group (NYSE:PNC) Given New $200.00 Price Target at Stephens

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by Stephens from $185.00 to $200.00 in a research report report published on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two equities 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 company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $189.38 on Wednesday. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $196.64. The firm has a market capitalization of $75.28 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The firm has a 50-day moving average price of $180.83 and a 200 day moving average price of $167.20. 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 released its quarterly earnings results 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 PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the company earned $3.60 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that The PNC Financial Services Group will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend 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 Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares in the company, valued at approximately $101,233,217.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction that occurred 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 transaction, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,420 shares of company stock valued at $4,223,131 in the last ninety days. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNC. Integrated Advisors Network LLC lifted its stake 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 purchasing an additional 148 shares during the last quarter. EP Wealth Advisors LLC raised its stake in The PNC Financial Services Group by 16.0% in the 4th 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 during the fourth quarter valued at about $1,243,000. Los Angeles Capital Management LLC boosted its position in The PNC Financial Services Group by 526.5% during the first 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 stake in shares of The PNC Financial Services Group by 7.5% in the first quarter. GAMMA Investing LLC now owns 1,895 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.