The PNC Financial Services Group, Inc (NYSE:PNC) Receives $234.44 Average Price Target from Analysts

The PNC Financial Services Group, Inc (NYSE:PNC) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $234.4444.

A number of equities research analysts have issued reports on PNC shares. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Royal Bank Of Canada upped their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Barclays lifted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $213.19 on Friday. The stock has a market capitalization of $85.99 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $222.33 and a 200 day moving average of $204.81. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the company earned $3.77 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Insider Activity

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC boosted its holdings in The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 1,449 shares in the last quarter. World Investment Advisors increased its stake in The PNC Financial Services Group by 3.2% in the second quarter. World Investment Advisors now owns 3,958 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 123 shares during the last quarter. Finally, Strs Ohio raised its holdings in The PNC Financial Services Group by 4.3% during the second quarter. Strs Ohio now owns 146,382 shares of the financial services provider’s stock worth $27,289,000 after purchasing an additional 6,090 shares in the last quarter. 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 is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.