The PNC Financial Services Group (NYSE:PNC) Given New $184.00 Price Target at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price objective raised by Evercore ISI from $180.00 to $184.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. Keefe, Bruyette & Woods restated an underperform rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a reduce rating to a hold rating and boosted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a neutral rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $158.43.

The PNC Financial Services Group Stock Down 1.9 %

Shares of The PNC Financial Services Group stock opened at $151.94 on Tuesday. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $162.24. The stock has a 50-day simple moving average of $154.95 and a 200-day simple moving average of $152.74.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during 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 firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 EPS. On average, equities research analysts expect that The PNC Financial Services Group will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were 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 in the company, valued at $545,856.74. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Large investors have recently made changes to their positions in the business. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $29,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

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.