PNC Financial Services Group (NYSE:PNC) Price Target Increased to $147.00 by Analysts at Wells Fargo & Co

PNC Financial Services Group (NYSE:PNC) had its price target upped by Wells Fargo & Co from $134.00 to $147.00 in a research report released on Thursday morning, The Fly reports. Wells Fargo & Co currently has a market perform rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on PNC. UBS Group raised their price target on shares of PNC Financial Services Group from $139.00 to $142.00 and gave the stock a neutral rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Robert W. Baird set a $141.00 price target on shares of PNC Financial Services Group and gave the stock a buy rating in a research report on Monday, August 26th. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the stock a hold rating in a research report on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a hold rating to a sell rating and set a $147.00 price target for the company. in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. PNC Financial Services Group has an average rating of Hold and an average price target of $143.32.

Shares of PNC stock traded up $0.86 during mid-day trading on Thursday, reaching $143.52. 124,974 shares of the company were exchanged, compared to its average volume of 2,004,822. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $144.32. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $63.17 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.82 and a beta of 1.13. The business’s 50 day simple moving average is $137.24 and its 200 day simple moving average is $134.45.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.14. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the company earned $2.82 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts forecast that PNC Financial Services Group will post 11.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,000 shares of PNC Financial Services Group stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total value of $692,050.00. Following the completion of the transaction, the insider now owns 52,417 shares of the company’s stock, valued at $7,255,036.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory H. Kozich sold 3,441 shares of PNC Financial Services Group stock in a transaction on Monday, July 29th. The stock was sold at an average price of $144.24, for a total transaction of $496,329.84. Following the completion of the transaction, the insider now directly owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,374 shares of company stock valued at $20,769,972. 0.37% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in PNC. Westside Investment Management Inc. acquired a new position in shares of PNC Financial Services Group during the second quarter valued at $29,000. Meridian Wealth Management LLC acquired a new position in shares of PNC Financial Services Group during the first quarter valued at $33,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of PNC Financial Services Group during the second quarter valued at $40,000. Old North State Trust LLC boosted its holdings in shares of PNC Financial Services Group by 108.8% during the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 160 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in shares of PNC Financial Services Group by 508.5% during the second quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the period. 80.81% of the stock is owned by hedge funds and other institutional investors.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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