Brokerages Set The PNC Financial Services Group, Inc (NYSE:PNC) PT at $265.73

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $265.7250.

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a research report on Thursday, July 23rd. Argus boosted their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Citigroup boosted their target price on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Stephens boosted their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th.

The PNC Financial Services Group Stock Down 0.5%

PNC opened at $242.24 on Friday. The firm has a 50 day moving average price of $249.40 and a 200 day moving average price of $229.61. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $258.96. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $96.64 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the business posted $3.85 EPS. The business’s quarterly revenue was up 21.4% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a $2.00 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares in the company, valued at $1,204,750.26. This represents a 22.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,654 shares of company stock valued at $1,627,011 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNC. Amundi grew its position in The PNC Financial Services Group by 5.2% in the second quarter. Amundi now owns 1,824,741 shares of the financial services provider’s stock worth $449,288,000 after buying an additional 90,734 shares during the last quarter. Tobias Financial Advisors Inc. purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $203,000. Groupe la Francaise increased its stake in The PNC Financial Services Group by 47.8% in the 2nd quarter. Groupe la Francaise now owns 1,769 shares of the financial services provider’s stock valued at $436,000 after buying an additional 572 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of The PNC Financial Services Group in the second quarter worth $52,888,000. Finally, Vancity Investment Management Ltd increased its position in The PNC Financial Services Group by 22.5% in the 2nd quarter. Vancity Investment Management Ltd now owns 39,789 shares of the financial services provider’s stock worth $9,797,000 after purchasing an additional 7,302 shares during the last quarter. 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.