Brokerages Set The PNC Financial Services Group, Inc. (NYSE:PNC) Target Price at $157.02

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have received an average recommendation of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $157.02.

Several analysts recently weighed in on the stock. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $1,825,000. KPP Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $323,000. AQR Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of The PNC Financial Services Group by 23.3% during the 1st quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Trust Point Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $459,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 1.3 %

NYSE PNC opened at $156.50 on Monday. The firm has a 50 day simple moving average of $155.76 and a 200-day simple moving average of $148.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24. The firm has a market cap of $62.27 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.78 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.96%. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.