The PNC Financial Services Group (NYSE:PNC) Lifted to “Buy” at UBS Group

UBS Group upgraded shares of The PNC Financial Services Group (NYSE:PNCFree Report) from a neutral rating to a buy rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $179.00 price target on the financial services provider’s stock, up from their prior price target of $165.00.

Several other analysts have also weighed in on the company. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and raised their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Evercore ISI raised their price objective on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an outperform rating in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $159.63.

Check Out Our Latest Stock Analysis on PNC

The PNC Financial Services Group Stock Performance

PNC opened at $164.24 on Monday. The firm has a market cap of $65.35 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $164.46. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average is $155.67 and its 200-day moving average is $153.32.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. Sell-side analysts expect that The PNC Financial Services Group will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 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 3.90%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Insiders sold 2,773 shares of company stock worth $430,151 over the last ninety days. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in PNC. Schroder Investment Management Group increased its holdings in The PNC Financial Services Group by 4.4% in the third quarter. Schroder Investment Management Group now owns 53,954 shares of the financial services provider’s stock worth $6,624,000 after purchasing an additional 2,253 shares in the last quarter. Townsquare Capital LLC grew its stake in The PNC Financial Services Group by 8.2% in the third quarter. Townsquare Capital LLC now owns 16,279 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 1,231 shares during the period. Morgan Stanley grew its stake in The PNC Financial Services Group by 1.0% in the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after acquiring an additional 36,362 shares during the period. Creative Planning grew its stake in The PNC Financial Services Group by 17.9% in the third quarter. Creative Planning now owns 59,227 shares of the financial services provider’s stock valued at $7,271,000 after acquiring an additional 9,008 shares during the period. Finally, Comerica Bank grew its stake in The PNC Financial Services Group by 193.8% in the third quarter. Comerica Bank now owns 130,503 shares of the financial services provider’s stock valued at $16,022,000 after acquiring an additional 86,087 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

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