Evercore ISI Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $212.00

The PNC Financial Services Group (NYSE:PNC) had its target price lifted by equities research analysts at Evercore ISI from $203.00 to $212.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price indicates a potential upside of 18.84% from the stock’s current price.

Several other research firms have also recently commented on PNC. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $177.65.

The PNC Financial Services Group Price Performance

PNC opened at $178.39 on Wednesday. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $187.78. The firm has a market cap of $70.91 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 2.01 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a fifty day simple moving average of $178.11 and a 200 day simple moving average of $164.85.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.36 earnings per share. Equities research analysts expect that The PNC Financial Services Group will post 13.14 EPS for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the transaction, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the sale, the chief executive officer now owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,824 shares of company stock worth $4,580,223. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% during the second 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. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Fortis Group Advisors LLC boosted its stake in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. 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.