The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $225.00 by Analysts at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by equities researchers at Evercore ISI from $212.00 to $225.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 17.84% from the company’s previous close.

A number of other analysts have also commented on PNC. Jefferies Financial Group raised their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two investment 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. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $179.90.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.41 during trading hours on Wednesday, reaching $190.93. 611,703 shares of the company’s stock traded hands, compared to its average volume of 1,853,034. The firm’s 50 day simple moving average is $179.61 and its 200-day simple moving average is $166.61. The stock has a market cap of $75.97 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $196.64.

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

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the completion of the transaction, the chief executive officer now owns 562,153 shares in the company, valued at $99,315,570.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, President Michael P. Lyons sold 11,000 shares of the firm’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 sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the transaction, the chief executive officer now directly owns 562,153 shares of the company’s stock, valued at $99,315,570.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,662 shares of company stock worth $4,442,555. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. Jennison Associates LLC boosted its stake in shares of The PNC Financial Services Group by 38.4% in the 1st quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after buying an additional 291,769 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after acquiring an additional 276,200 shares during the period. Hsbc Holdings PLC boosted its position in The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after purchasing an additional 262,654 shares during the last quarter. Marshall Wace LLP grew its stake in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. Finally, Legal & General Group Plc increased its position in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 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.