The PNC Financial Services Group (NYSE:PNC) PT Lowered to $180.00 at The Goldman Sachs Group

The PNC Financial Services Group (NYSE:PNC) had its target price cut by The Goldman Sachs Group from $189.00 to $180.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com raised The PNC Financial Services Group from a sell rating to a hold rating in a research report on Wednesday, May 29th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an overweight rating in a report on Wednesday, July 17th. UBS Group lifted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price 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, July 17th. Finally, Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of Hold and an average target price of $176.90.

The PNC Financial Services Group Trading Down 0.2 %

The PNC Financial Services Group stock opened at $177.24 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $70.45 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The stock has a 50-day moving average of $175.16 and a two-hundred day moving average of $161.66. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $185.84.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a dividend of $1.60 per share. The ex-dividend date was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the sale, the chief executive officer now directly owns 563,395 shares in the company, valued at approximately $94,368,662.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,263 shares of company stock worth $4,418,109 in the last three months. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Heritage Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $1,166,000. Sanctuary Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $14,723,000. Souders Financial Advisors raised its position in The PNC Financial Services Group by 2.3% during the second quarter. Souders Financial Advisors now owns 22,408 shares of the financial services provider’s stock valued at $3,484,000 after acquiring an additional 496 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $278,000. Finally, KPP Advisory Services LLC grew its position in The PNC Financial Services Group by 8.9% in the second quarter. KPP Advisory Services LLC now owns 3,531 shares of the financial services provider’s stock worth $549,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.