The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $269.50

The PNC Financial Services Group (NYSE:PNC) had its price target boosted by research analysts at JPMorgan Chase & Co. from $264.50 to $269.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.42% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. Bank of America upped their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft lowered The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target for the company. in a research report on Thursday, July 23rd. UBS Group lifted their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Oppenheimer raised their price target on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

The PNC Financial Services Group Trading Down 1.2%

PNC traded down $3.03 during trading on Wednesday, hitting $248.57. 528,003 shares of the stock were exchanged, compared to its average volume of 2,387,340. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50 day simple moving average of $238.39 and a 200 day simple moving average of $225.41. The firm has a market cap of $99.82 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.99 and a beta of 0.91. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $256.49.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The business’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group will post 19.25 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the period. Empowered Funds LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares during the period. Sivia Capital Partners LLC boosted its holdings in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after buying an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the second quarter valued at $482,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.