The PNC Financial Services Group (NYSE:PNC) PT Raised to $184.00

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

Several other research firms have also issued reports on PNC. JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their target price on 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. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. Bank of America upped their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group cut their price target on shares of 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $158.43.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $155.48 on Tuesday. The firm has a market cap of $61.87 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.17 and a beta of 1.16. The stock’s 50 day moving average is $155.18 and its 200 day moving average is $152.82. 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 PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last announced 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 return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $3.98 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Buying and Selling at The PNC Financial Services Group

In other news, 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 transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently added to or reduced their stakes in the stock. Rockline Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group in the third quarter worth approximately $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in The PNC Financial Services Group by 23.3% during the first quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after buying an additional 1,604 shares during the period. Finally, Trust Point Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $459,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.