PNC Financial Services Group, Inc. (The) (NYSE:PNC) Price Target Increased to $140.50 by Analysts at J P Morgan Chase & Co

PNC Financial Services Group, Inc. (The) (NYSE:PNC) had its price target increased by J P Morgan Chase & Co from $139.50 to $140.50 in a research note published on Wednesday, November 1st. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research report on Monday, October 30th. Nomura boosted their price target on PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the company a neutral rating in a research note on Monday, October 23rd. Citigroup Inc. reaffirmed a neutral rating and issued a $144.00 price target (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, October 9th. Instinet reissued a neutral rating and set a $132.00 target price (up previously from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Saturday, September 30th. Finally, Robert W. Baird reissued a buy rating and set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, October 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $133.99.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded down $0.25 during midday trading on Wednesday, hitting $132.23. 2,153,900 shares of the stock traded hands, compared to its average volume of 2,233,024. The company has a market cap of $63,034.13, a price-to-earnings ratio of 16.18, a PEG ratio of 1.77 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group, Inc. has a one year low of $105.47 and a one year high of $139.23.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. equities research analysts expect that PNC Financial Services Group, Inc. will post 8.43 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, October 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.27%. PNC Financial Services Group, Inc. (The)’s payout ratio is 36.63%.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the transaction, the insider now directly owns 20,449 shares in the company, valued at $2,801,104.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,640 shares of company stock valued at $1,729,952. 0.43% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in PNC Financial Services Group, Inc. (The) by 2,833.1% during the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock valued at $3,262,582,000 after purchasing an additional 26,208,815 shares during the period. FMR LLC raised its position in PNC Financial Services Group, Inc. (The) by 19.4% during the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock valued at $1,654,586,000 after purchasing an additional 2,239,716 shares during the period. Principal Financial Group Inc. raised its position in PNC Financial Services Group, Inc. (The) by 240.4% during the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock valued at $298,281,000 after purchasing an additional 1,686,944 shares during the period. Janus Henderson Group PLC raised its position in PNC Financial Services Group, Inc. (The) by 2,624.0% during the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock valued at $213,239,000 after purchasing an additional 1,645,007 shares during the period. Finally, Koch Industries Inc. raised its position in PNC Financial Services Group, Inc. (The) by 78,828.1% during the second quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,348,748 shares during the period. Institutional investors own 81.19% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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