The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $215.00 at Wells Fargo & Company

The PNC Financial Services Group (NYSE:PNC) had its price target hoisted by Wells Fargo & Company from $204.00 to $215.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on PNC. Barclays raised their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada raised their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Trading Down 1.3 %

NYSE:PNC opened at $189.92 on Wednesday. The firm has a market capitalization of $75.57 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The business has a fifty day moving average price of $180.07 and a 200-day moving average price of $166.78. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. Sell-side analysts forecast that The PNC Financial Services Group will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.37%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock valued at $4,442,555 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth $29,000. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.