The PNC Financial Services Group, Inc (NYSE:PNC) Receives $217.17 Average Price Target from Brokerages

The PNC Financial Services Group, Inc (NYSE:PNC) has received a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $219.1111.

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Oppenheimer lowered their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 15th. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Raymond James Financial increased their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th.

The PNC Financial Services Group Trading Up 0.4%

Shares of The PNC Financial Services Group stock opened at $210.37 on Tuesday. The stock has a market capitalization of $82.50 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $213.03. The stock has a 50 day moving average price of $190.25 and a two-hundred day moving average price of $192.44. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. AIA Group Ltd grew its holdings in shares of The PNC Financial Services Group by 25.3% in the third quarter. AIA Group Ltd now owns 5,529 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 1,115 shares in the last quarter. Keel Point LLC boosted its position in The PNC Financial Services Group by 4.0% in the third quarter. Keel Point LLC now owns 2,930 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 114 shares during the last quarter. Mirabella Financial Services LLP boosted its position in The PNC Financial Services Group by 148.3% in the third quarter. Mirabella Financial Services LLP now owns 6,756 shares of the financial services provider’s stock worth $1,355,000 after purchasing an additional 4,035 shares during the last quarter. Hudson Bay Capital Management LP grew its stake in The PNC Financial Services Group by 2.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 92,816 shares of the financial services provider’s stock valued at $18,650,000 after purchasing an additional 1,837 shares during the period. Finally, IFP Advisors Inc increased its position in shares of The PNC Financial Services Group by 7.3% during the 3rd quarter. IFP Advisors Inc now owns 5,715 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 387 shares during 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 is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.