The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $235.00 at Wells Fargo & Company

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by investment analysts at Wells Fargo & Company from $215.00 to $235.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.00% from the company’s current price.

Several other equities analysts have also recently weighed in on PNC. Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley raised their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $186.96.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $207.96 on Friday. The stock has a market cap of $82.51 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a fifty-two week low of $126.41 and a fifty-two week high of $214.19. The firm’s fifty day moving average price is $187.09 and its 200-day moving average price is $172.19.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group will post 13.46 earnings per share for the current fiscal year.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the transaction, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,546 shares of company stock worth $5,277,493. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the stock. Bank & Trust Co bought a new position in The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the period. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at $28,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares in 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 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.