The PNC Financial Services Group (NYSE:PNC) Stock Price Expected to Rise, Citigroup Analyst Says

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by Citigroup from $200.00 to $235.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Barclays increased their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $189.15.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $215.00 on Monday. The company has a market cap of $85.31 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The PNC Financial Services Group has a 52 week low of $127.83 and a 52 week high of $216.18. The business has a 50 day moving average price of $193.50 and a 200-day moving average price of $176.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.60 earnings per share. Equities analysts anticipate that The PNC Financial Services Group will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 2.98%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the sale, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,546 shares of company stock valued at $5,345,530. 0.42% of the stock is currently owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently bought and sold shares of PNC. Dynasty Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $225,000. Ancora Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 0.8% during the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 73 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group by 13.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 1,596 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of The PNC Financial Services Group by 1.2% during the first quarter. California State Teachers Retirement System now owns 659,280 shares of the financial services provider’s stock valued at $106,540,000 after purchasing an additional 7,748 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $1,421,000. 83.53% of the stock is owned by 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.