The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $208.00 at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price target upped by Morgan Stanley from $199.00 to $208.00 in a report released on Friday,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $198.36 on Friday. The company has a market capitalization of $78.71 billion, a P/E ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. 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 52-week low of $139.69 and a 52-week high of $216.26. The company has a fifty day moving average price of $201.51 and a 200-day moving average price of $186.74.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 EPS. As a group, equities analysts expect that The PNC Financial Services Group will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,030 shares of company stock valued at $5,928,202. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

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

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.