The PNC Financial Services Group (NYSE:PNC) PT Raised to $168.00

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Bank of America from $165.00 to $168.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on PNC. UBS Group lifted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an underperform rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday. Evercore ISI dropped their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a report on Wednesday. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $156.63.

The PNC Financial Services Group Stock Up 0.5 %

Shares of PNC opened at $147.25 on Wednesday. The business’s 50 day moving average is $151.80 and its 200 day moving average is $141.68. The company has a market capitalization of $58.58 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. 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 current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.98 EPS. Research analysts expect that The PNC Financial Services Group will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Large investors have recently added to or reduced their stakes in the company. Rockline Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $323,000. AQR Capital Management LLC boosted its stake in shares of 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 during the last quarter. Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.