The PNC Financial Services Group (NYSE:PNC) Given New $225.00 Price Target at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price target raised by Evercore ISI from $212.00 to $225.00 in a research report sent to investors on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the company. Citigroup lifted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. UBS Group increased their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $189.92 on Wednesday. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $196.64. The business has a fifty day moving average of $180.07 and a 200 day moving average of $166.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $75.57 billion, a P/E ratio of 15.95, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The PNC Financial Services Group’s payout ratio is 53.74%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $185.00, for a total value of $229,770.00. Following the transaction, the chief executive officer now owns 547,249 shares of the company’s stock, valued at $101,241,065. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $185.00, for a total transaction of $229,770.00. Following the transaction, the chief executive officer now directly owns 547,249 shares in the company, valued at $101,241,065. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock worth $4,442,555 over the last quarter. Company 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 added to or reduced their stakes in the stock. Valley Brook Capital Group Inc. raised its stake in shares of The PNC Financial Services Group by 0.6% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 62 shares in the last quarter. Kowal Investment Group LLC grew its stake in The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock worth $411,000 after buying an additional 68 shares during the last quarter. Ranch Capital Advisors Inc. grew its stake in The PNC Financial Services Group by 1.0% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 69 shares during the last quarter. Triangle Securities Wealth Management raised its stake in The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after buying an additional 70 shares during the last quarter. Finally, Cooper Financial Group grew its stake in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares during the last quarter. 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.