The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $274.00

The PNC Financial Services Group (NYSE:PNC) had its price target upped by Oppenheimer from $269.00 to $274.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on PNC. Raymond James Financial dropped their price target on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $258.00 to $259.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. TD Cowen lowered their target price on shares of The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Friday, October 16th. Citigroup dropped their target price on The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Finally, Evercore cut their price target on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

The PNC Financial Services Group Trading Up 1.8%

Shares of The PNC Financial Services Group stock opened at $233.43 on Monday. The PNC Financial Services Group has a 52-week low of $177.08 and a 52-week high of $258.96. The stock’s 50-day simple moving average is $229.31 and its 200 day simple moving average is $229.16. The stock has a market capitalization of $93.13 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $4.35 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group will post 19.24 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

Insider Activity

In other news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Trust Asset Management LLC lifted its position in The PNC Financial Services Group by 1.0% during the second quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 43 shares during the period. Everett Harris & Co. CA boosted its holdings in shares of The PNC Financial Services Group by 3.3% during the 3rd quarter. Everett Harris & Co. CA now owns 1,535 shares of the financial services provider’s stock valued at $341,000 after buying an additional 49 shares in the last quarter. United Community Bank grew its position in shares of The PNC Financial Services Group by 0.8% in the 2nd quarter. United Community Bank now owns 6,523 shares of the financial services provider’s stock worth $1,606,000 after buying an additional 50 shares during the period. Relyea Zuckerberg Hanson LLC grew its position in shares of The PNC Financial Services Group by 3.2% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,647 shares of the financial services provider’s stock worth $343,000 after buying an additional 51 shares during the period. Finally, Klingman & Associates LLC grew its position in shares of The PNC Financial Services Group by 4.9% in the 1st quarter. Klingman & Associates LLC now owns 1,085 shares of the financial services provider’s stock worth $226,000 after buying an additional 51 shares during the period. 83.53% of the stock is owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.