PNC Financial Services Group Inc. (NYSE:PNC) had its target price upped by Credit Agricole SA from $86.00 to $92.00 in a research note issued to investors on Friday morning. The brokerage currently has an underperform rating on the stock.
A number of other equities research analysts also recently issued reports on the company. Bank of America Corp. set a $100.00 price objective on PNC Financial Services Group and gave the stock a buy rating in a research report on Wednesday, September 7th. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $96.00 price objective on shares of PNC Financial Services Group in a research report on Wednesday, August 31st. Barclays PLC reissued an equal weight rating and issued a $100.00 target price on shares of PNC Financial Services Group in a research note on Sunday, July 10th. Nomura raised PNC Financial Services Group from a neutral rating to a buy rating and reduced their target price for the company from $95.00 to $84.00 in a research note on Thursday, July 7th. Finally, Vetr cut PNC Financial Services Group from a strong-buy rating to a buy rating and set a $89.00 target price on the stock. in a research note on Thursday, July 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $96.83.
PNC Financial Services Group (NYSE:PNC) opened at 88.55 on Friday. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 12.22 and a beta of 0.88. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $97.50. The firm has a 50-day moving average price of $88.12 and a 200 day moving average price of $85.76.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, July 15th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. PNC Financial Services Group had a return on equity of 9.22% and a net margin of 24.32%. The company had revenue of $3.79 billion for the quarter. During the same quarter last year, the business posted $1.88 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts predict that PNC Financial Services Group will post $7.10 earnings per share for the current year.
In related news, insider Michael J. Hannon sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $86.49, for a total value of $2,854,170.00. Following the completion of the transaction, the insider now directly owns 87,573 shares in the company, valued at approximately $7,574,188.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Hesse acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was purchased at an average price of $82.44 per share, with a total value of $41,220.00. Following the completion of the acquisition, the director now owns 1,100 shares in the company, valued at $90,684. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in PNC. Iowa State Bank purchased a new position in shares of PNC Financial Services Group during the second quarter worth $114,000. Barrett Asset Management LLC increased its stake in PNC Financial Services Group by 162.3% in the second quarter. Barrett Asset Management LLC now owns 1,705 shares of the company’s stock worth $139,000 after buying an additional 1,055 shares during the period. Enterprise Financial Services Corp increased its stake in PNC Financial Services Group by 5.8% in the second quarter. Enterprise Financial Services Corp now owns 1,797 shares of the company’s stock worth $146,000 after buying an additional 99 shares during the period. M&R Capital Management Inc. bought a new stake in PNC Financial Services Group during the second quarter worth approximately $146,000. Finally, NEXT Financial Group Inc increased its stake in PNC Financial Services Group by 42.8% in the second quarter. NEXT Financial Group Inc now owns 2,006 shares of the company’s stock worth $163,000 after buying an additional 601 shares during the period. Institutional investors own 80.21% of the company’s stock.
About PNC Financial Services Group
The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.
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