The PNC Financial Services Group (NYSE:PNC) Given New $168.00 Price Target at Bank of America

The PNC Financial Services Group (NYSE:PNC) had its target price upped by equities researchers at Bank of America from $165.00 to $168.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 14.09% from the stock’s previous close.

A number of other brokerages have also commented on PNC. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. Finally, HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Up 0.5 %

PNC stock opened at $147.25 on Wednesday. The stock’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 company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $58.58 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18.

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

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in PNC. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $1,039,481,000. Franklin Resources Inc. boosted its stake in The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after buying an additional 2,538,916 shares during the period. Capital International Investors boosted its stake in The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after buying an additional 1,978,854 shares during the period. Finally, Morgan Stanley boosted its stake in The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares during the period. 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.