The PNC Financial Services Group (NYSE:PNC) Given New $184.00 Price Target at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by Evercore ISI from $180.00 to $184.00 in a research report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

PNC has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an underperform rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Finally, HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and lifted their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of Hold and an average target price of $158.43.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $155.48 on Tuesday. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $61.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The business has a 50 day simple moving average of $155.18 and a 200 day simple moving average of $152.82.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Corporate 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 made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $28,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth $28,000. Institutional investors own 83.53% of the company’s stock.

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.