PNC Financial Services Group (PNC) Price Target Increased to $157.00 by Analysts at Barclays

PNC Financial Services Group (NYSE:PNC) had its price objective upped by stock analysts at Barclays from $156.00 to $157.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 19.58% from the stock’s previous close.

PNC has been the subject of a number of other research reports. Bank of America cut PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. Zacks Investment Research cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Royal Bank of Canada reduced their price target on PNC Financial Services Group to $150.00 and set an “average” rating for the company in a report on Thursday, January 17th. Goldman Sachs Group cut PNC Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $154.00 to $144.00 in a report on Monday, January 7th. Finally, Morgan Stanley reduced their price objective on PNC Financial Services Group from $147.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $145.66.

PNC Financial Services Group stock traded down $1.41 during midday trading on Monday, reaching $131.29. 109,270 shares of the company’s stock were exchanged, compared to its average volume of 2,103,256. PNC Financial Services Group has a 52 week low of $108.45 and a 52 week high of $152.29. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $58.39 billion, a P/E ratio of 12.26, a PEG ratio of 1.51 and a beta of 1.05.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, hitting analysts’ consensus estimates of $2.61. PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $2.43 earnings per share. Research analysts forecast that PNC Financial Services Group will post 11.29 earnings per share for the current year.

In related news, EVP Robert Q. Reilly sold 12,361 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the sale, the executive vice president now directly owns 118,671 shares in the company, valued at $14,537,197.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was bought at an average price of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Oakworth Capital Inc. boosted its stake in shares of PNC Financial Services Group by 15.5% in the fourth quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock valued at $75,000 after buying an additional 86 shares during the period. Adviser Investments LLC boosted its stake in shares of PNC Financial Services Group by 2.7% in the fourth quarter. Adviser Investments LLC now owns 3,509 shares of the financial services provider’s stock valued at $410,000 after buying an additional 91 shares during the period. Cohen & Steers Inc. boosted its stake in shares of PNC Financial Services Group by 0.6% in the third quarter. Cohen & Steers Inc. now owns 16,001 shares of the financial services provider’s stock valued at $2,179,000 after buying an additional 96 shares during the period. Parkside Financial Bank & Trust raised its position in PNC Financial Services Group by 31.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 409 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 97 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its position in PNC Financial Services Group by 3.8% during the fourth quarter. Indiana Trust & Investment Management CO now owns 2,735 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 82.25% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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.

See Also: Cost of Equity For A Business, Investors

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

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