The PNC Financial Services Group (NYSE:PNC) PT Raised to $204.00

The PNC Financial Services Group (NYSE:PNC) had its target price increased by Wells Fargo & Company from $194.00 to $204.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms also recently weighed in on PNC. JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. HSBC raised shares of The PNC Financial Services Group from a reduce rating to a hold rating and raised their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. UBS Group raised The PNC Financial Services Group from a neutral rating to a buy rating and increased their price objective for the stock from $165.00 to $179.00 in a research note on Monday, July 8th. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a neutral rating in a research report on Monday, April 1st. Finally, Royal Bank of Canada increased their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an outperform rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $175.34.

The PNC Financial Services Group Trading Down 0.3 %

PNC opened at $175.51 on Wednesday. The company has a fifty day moving average price of $158.03 and a two-hundred day moving average price of $154.24. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $180.97. The company has a market cap of $69.84 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.36 EPS. Analysts predict that The PNC Financial Services Group will post 12.95 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be paid a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.65%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the sale, the chief executive officer now directly owns 563,395 shares in the company, valued at $94,368,662.50. The disclosure for this sale can be found here. Insiders sold 6,419 shares of company stock valued at $1,022,826 over the last ninety days. 0.42% of the stock is currently owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $26,000. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the second quarter valued at about $26,000. ORG Partners LLC raised its holdings 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 valued at $26,000 after buying an additional 110 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $28,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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.