The PNC Financial Services Group (NYSE:PNC) Hits New 1-Year High at $162.69

The PNC Financial Services Group, Inc. (NYSE:PNC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $162.69 and last traded at $162.44, with a volume of 438100 shares trading hands. The stock had previously closed at $161.51.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI raised their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $159.63.

The PNC Financial Services Group Trading Up 0.2 %

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 stock has a fifty day moving average of $155.92 and a 200 day moving average of $153.43. The company has a market capitalization of $67.07 billion, a PE ratio of 14.13, a PEG ratio of 1.68 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.67 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.80%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The disclosure for this sale can be found here. Insiders have sold a total of 5,177 shares of company stock valued at $814,791 in the last quarter. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the business. Steph & Co. grew its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 67 shares during the last quarter. Bangor Savings Bank grew its position in The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the last quarter. Triangle Securities Wealth Management grew its position in The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the last quarter. Cooper Financial Group grew its position in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. Finally, Berkshire Bank grew its position in The PNC Financial Services Group by 2.0% in the 1st quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.