The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $257.00

The PNC Financial Services Group (NYSE:PNC) had its target price lifted by Barclays from $229.00 to $257.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on PNC. Stephens raised their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given 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 price target of $203.29.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $194.51 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $77.18 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a 50 day moving average of $201.30 and a 200-day moving average of $185.23.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.29%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now directly owns 546,007 shares in the company, valued at approximately $104,052,553.99. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock valued at $6,155,103 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. Loomis Sayles & Co. L P raised its holdings in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares during the period. Altman Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 57 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

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.