Brokerages Set The PNC Financial Services Group, Inc (NYSE:PNC) Price Target at $265.73

The PNC Financial Services Group, Inc (NYSE:PNC) has been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $265.7250.

Several research firms have recently commented on PNC. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective on the stock. in a research report on Thursday, July 23rd. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Barclays upped their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Oppenheimer upped their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,654 shares of company stock valued at $1,627,011. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the third quarter valued at about $25,000. Highland Investment Advisors LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $28,000. Finally, Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth about $29,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $243.33 on Friday. The stock has a 50-day moving average of $249.21 and a 200 day moving average of $229.52. The PNC Financial Services Group has a one year low of $176.88 and a one year high of $258.96. The company has a market capitalization of $97.08 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.97 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

About The PNC Financial Services Group

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.