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 target hoisted by analysts at Wells Fargo & Company from $215.00 to $235.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.00% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. The Goldman Sachs Group dropped 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 report on Wednesday, September 11th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Barclays boosted their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Stock Down 0.6 %

PNC opened at $207.96 on Friday. The firm has a market capitalization of $82.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. 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 company has a fifty day moving average price of $187.09 and a 200-day moving average price of $172.19. The PNC Financial Services Group has a one year low of $126.41 and a one year high of $214.19.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share 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 business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group will post 13.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at approximately $97,929,359.45. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,546 shares of company stock worth $5,277,493. 0.42% of the stock is owned by corporate insiders.

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 company. Concurrent Investment Advisors LLC grew its stake in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group during the third quarter worth about $12,548,000. Bleakley Financial Group LLC boosted its stake in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $822,000. Finally, Manning & Napier Advisors LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $18,159,000. Hedge funds and other 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.