The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $184.00 by Analysts at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price objective hoisted by Evercore ISI from $180.00 to $184.00 in a report released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

PNC has been the topic of a number of other reports. Jefferies Financial Group cut their price objective 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, April 17th. Keefe, Bruyette & Woods restated an underperform rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and upped their target price for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. StockNews.com upgraded The PNC Financial Services Group from a sell rating to a hold rating in a research report on Wednesday, May 29th. Finally, Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of Hold and an average target price of $158.43.

The PNC Financial Services Group Trading Up 0.1 %

PNC opened at $151.93 on Tuesday. The stock has a market cap of $60.45 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a fifty day moving average of $155.04 and a 200-day moving average of $152.73.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $3.98 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts predict that The PNC Financial Services Group will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.08%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,039,481,000. Franklin Resources Inc. grew its stake in shares of The PNC Financial Services Group by 165.4% in 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 in the last quarter. Capital International Investors grew its stake in shares of The PNC Financial Services Group by 14.4% in 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 in the last quarter. Capital Research Global Investors lifted its stake in The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after acquiring an additional 778,264 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after acquiring an additional 639,903 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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.