The PNC Financial Services Group (NYSE:PNC) PT Raised to $168.00 at Bank of America

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Bank of America from $165.00 to $168.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on PNC. Keefe, Bruyette & Woods reissued an underperform rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Evercore ISI lowered their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Jefferies Financial Group lowered their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a neutral rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $156.63.

The PNC Financial Services Group Trading Up 3.0 %

NYSE:PNC opened at $152.30 on Wednesday. The company has a 50-day moving average price of $151.89 and a 200-day moving average price of $141.95. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The stock has a market cap of $60.59 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.67 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $3.98 EPS. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in the business. Steph & Co. grew its position in The PNC Financial Services Group by 1.8% during the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares during the period. 1832 Asset Management L.P. grew its position in The PNC Financial Services Group by 33.5% during the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after buying an additional 67 shares during the period. Bangor Savings Bank grew its position in The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after buying an additional 69 shares during the period. Triangle Securities Wealth Management grew its position in The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after buying an additional 70 shares during the period. Finally, Cooper Financial Group grew its position in The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after buying an additional 70 shares during the period. 83.53% of the stock is currently owned by 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.