PNC Financial Services Group, Inc. (The) (NYSE:PNC) PT Raised to $140.50

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

PNC has been the subject of a number of other research reports. Wells Fargo & Company set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the stock a hold rating in a report on Thursday, October 19th. Sanford C. Bernstein reaffirmed a market perform rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, October 3rd. Citigroup Inc. reissued a neutral rating and issued a $144.00 price objective (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, October 9th. Stephens lowered shares of PNC Financial Services Group, Inc. (The) from an overweight rating to an equal weight rating in a report on Thursday, October 5th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reissued a buy rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, August 27th. Sixteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $135.93.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at $133.29 on Wednesday. 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 12 month low of $109.16 and a 12 month high of $139.23. The stock has a market cap of $63,210.00, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.77 and a beta of 0.91.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.03. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations 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%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. research analysts anticipate that PNC Financial Services Group, Inc. will post 8.43 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were paid a $0.75 dividend. The ex-dividend date was Monday, October 16th. This represents a $3.00 annualized dividend and a yield of 2.25%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.54%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $136.98, for a total transaction of $429,432.30. Following the transaction, the insider now owns 20,449 shares in the company, valued at $2,801,104.02. The disclosure for this sale can be found here. Insiders sold 12,640 shares of company stock worth $1,729,952 over the last quarter. 0.43% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC grew its position in PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the last quarter. Tower Research Capital LLC TRC grew its position in PNC Financial Services Group, Inc. (The) by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares during the last quarter. First Interstate Bank grew its position in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the last quarter. Atlantic Trust LLC purchased a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter valued at $129,000. Finally, Legacy Advisors LLC purchased a new position in PNC Financial Services Group, Inc. (The) in the 3rd quarter valued at $136,000. Institutional investors and hedge funds own 80.22% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

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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