Brokerages Set The PNC Financial Services Group, Inc. (NYSE:PNC) Target Price at $176.90

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have earned a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $176.90.

A number of analysts have weighed in on PNC shares. Barclays increased their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Citigroup upped their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $183.33 on Friday. 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 capitalization of $72.95 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.03 and a beta of 1.14. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $187.78. The company’s 50-day simple moving average is $177.62 and its 200-day simple moving average is $163.66.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The business 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.36 EPS. Equities analysts anticipate that The PNC Financial Services Group will post 13.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.49%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the transaction, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. Insiders sold 25,223 shares of company stock worth $4,453,360 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $26,000. ORG Partners LLC increased its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group during the first quarter valued at about $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $31,000. 83.53% of the stock is currently owned by institutional investors.

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.