The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $168.00 by Analysts at Bank of America

The PNC Financial Services Group (NYSE:PNC) had its price target increased by Bank of America from $165.00 to $168.00 in a research report report published on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a report on Thursday, January 18th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a report on Tuesday, January 30th. HSBC upgraded shares of The PNC Financial Services Group from a reduce rating to a hold rating and boosted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Jefferies Financial Group lowered their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated an underperform rating and set a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of Hold and a consensus target price of $156.63.

The PNC Financial Services Group Stock Up 0.5 %

The PNC Financial Services Group stock opened at $147.25 on Wednesday. The company’s 50 day simple moving average is $151.80 and its 200 day simple moving average is $141.68. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm has a market capitalization of $58.58 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 12.42 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of PNC. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group during the third quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.