PNC Financial Services Group (NYSE:PNC) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $137.50 to $142.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.40% from the stock’s current price.
PNC has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Barclays lifted their price target on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. UBS Group set a $169.00 price target on shares of M&T Bank and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Morgan Stanley set a $36.00 target price on shares of ArcBest and gave the company a “hold” rating in a research note on Monday. Finally, ValuEngine lowered shares of Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $142.99.
Shares of NYSE:PNC traded up $1.38 during midday trading on Tuesday, reaching $141.43. The company had a trading volume of 80,557 shares, compared to its average volume of 2,056,001. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day simple moving average is $134.42. The stock has a market cap of $63.91 billion, a PE ratio of 13.23, a P/E/G ratio of 1.65 and a beta of 1.09. PNC Financial Services Group has a one year low of $108.45 and a one year high of $147.23.
In other news, insider Joseph E. Rockey sold 6,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider now owns 24,747 shares in the company, valued at $3,340,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. lifted its stake in shares of PNC Financial Services Group by 3.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 132,645 shares of the financial services provider’s stock worth $15,508,000 after buying an additional 4,893 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PNC Financial Services Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock worth $348,594,000 after buying an additional 41,309 shares during the period. Berman Capital Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $66,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of PNC Financial Services Group by 56.4% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,900 shares of the financial services provider’s stock worth $455,000 after buying an additional 1,407 shares during the period. Finally, Kinneret Advisory LLC acquired a new stake in shares of PNC Financial Services Group during the fourth quarter worth $753,000. 80.31% of the stock is owned by institutional investors and hedge funds.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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