The PNC Financial Services Group (NYSE:PNC) PT Raised to $182.00

The PNC Financial Services Group (NYSE:PNC) had its target price hoisted by The Goldman Sachs Group from $165.00 to $182.00 in a research note released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lifted their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an outperform rating in a report on Wednesday. StockNews.com upgraded The PNC Financial Services Group from a sell rating to a hold rating in a report on Wednesday, May 29th. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an underperform rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of Hold and a consensus price target of $175.34.

The PNC Financial Services Group Price Performance

PNC stock opened at $175.51 on Wednesday. The firm has a 50 day simple moving average of $158.03 and a two-hundred day simple moving average of $154.24. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.85. The stock has a market cap of $69.84 billion, a PE ratio of 14.74, a P/E/G ratio of 2.27 and a beta of 1.15. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $180.97.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.36 EPS. On average, analysts predict that The PNC Financial Services Group will post 12.95 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the transaction, the chief executive officer now owns 563,395 shares in the company, valued at approximately $94,368,662.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,419 shares of company stock worth $1,022,826. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of PNC. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $26,000. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. Finally, LRI Investments LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. 83.53% of the stock is owned by 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.