Analysts Set The PNC Financial Services Group, Inc (NYSE:PNC) Target Price at $265.73

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $267.8684.

PNC has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a research report on Thursday, July 23rd. Argus increased their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $7,921,455,000. Norges Bank acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $1,967,080,000. Bank of America Corp DE bought a new stake in The PNC Financial Services Group during the second quarter worth about $2,102,631,000. Deutsche Bank AG bought a new stake in The PNC Financial Services Group during the second quarter worth about $1,054,189,000. Finally, Jupiter Topco LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth about $756,877,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.1%

NYSE PNC opened at $233.34 on Thursday. The stock has a fifty day moving average of $247.09 and a 200-day moving average of $231.12. The stock has a market capitalization of $93.09 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.16 and a beta of 0.90. The PNC Financial Services Group has a 52 week low of $176.88 and a 52 week high of $258.96. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.4%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.03%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through PNC Bank and its other businesses, the company provides banking, lending, investment, and financial advisory services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management, payment processing, and corporate banking services.