The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $229.00

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by Barclays from $209.00 to $229.00 in a report issued on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on PNC. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two equities 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. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $185.71.

The PNC Financial Services Group Trading Up 0.3 %

NYSE:PNC opened at $189.38 on Wednesday. The company has a market cap of $75.28 billion, a PE ratio of 15.86, a P/E/G ratio of 2.06 and a beta of 1.14. The business’s 50 day moving average is $180.83 and its two-hundred day moving average is $167.13. 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 has a 52 week low of $109.40 and a 52 week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced 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 return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio is presently 53.60%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,420 shares of company stock valued at $4,223,131 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.