The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $212.00 by Analysts at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its target price raised by Evercore ISI from $203.00 to $212.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an overweight rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an underperform rating in a research report on Wednesday, July 17th. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a buy rating in a report on Wednesday, July 17th. Royal Bank of Canada increased their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an outperform rating in a report on Wednesday, July 17th. Finally, Barclays lifted 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 report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of Hold and a consensus target price of $177.65.

The PNC Financial Services Group Stock Up 2.2 %

Shares of PNC stock opened at $182.26 on Wednesday. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The firm has a market capitalization of $72.52 billion, a PE ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s 50-day simple moving average is $178.13 and its 200-day simple moving average is $165.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.36 EPS. Equities analysts expect that The PNC Financial Services Group will post 13.14 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the transaction, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,824 shares of company stock worth $4,580,223 over the last three months. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PNC. Valley Brook Capital Group Inc. raised its position in The PNC Financial Services Group by 0.6% in the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 62 shares during the period. Kowal Investment Group LLC increased its position in shares of 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 purchasing an additional 68 shares during the last quarter. Ranch Capital Advisors Inc. raised its holdings in The PNC Financial Services Group by 1.0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 69 shares during the period. Triangle Securities Wealth Management lifted its position 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 boosted its stake in 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 buying an additional 70 shares during the period. 83.53% of the stock is currently 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.