The PNC Financial Services Group, Inc. (NYSE:PNC) Receives $185.71 Average Target Price from Brokerages

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $185.71.

A number of equities analysts have commented on PNC shares. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Citigroup upped their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $209.27 on Monday. The PNC Financial Services Group has a 12 month low of $122.75 and a 12 month high of $214.19. The company’s fifty day moving average is $186.55 and its 200-day moving average is $171.93. The firm has a market cap of $83.03 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 earnings per share. Equities analysts expect that The PNC Financial Services Group will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total transaction of $213,375.60. Following the sale, the chief executive officer now owns 557,185 shares in the company, valued at $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,490,869 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Townsquare Capital LLC lifted its stake in The PNC Financial Services Group by 25.6% in the third quarter. Townsquare Capital LLC now owns 18,204 shares of the financial services provider’s stock worth $3,365,000 after acquiring an additional 3,711 shares during the period. Baldwin Investment Management LLC raised its stake in shares of The PNC Financial Services Group by 4.1% in the third quarter. Baldwin Investment Management LLC now owns 4,403 shares of the financial services provider’s stock worth $814,000 after purchasing an additional 175 shares during the last quarter. Cadence Bank lifted its position in The PNC Financial Services Group by 3.9% during the third quarter. Cadence Bank now owns 5,057 shares of the financial services provider’s stock valued at $935,000 after purchasing an additional 188 shares during the period. Transamerica Financial Advisors Inc. increased its position in The PNC Financial Services Group by 8.8% during the third quarter. Transamerica Financial Advisors Inc. now owns 6,908 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 560 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in shares of The PNC Financial Services Group by 6.0% in the 3rd quarter. Avestar Capital LLC now owns 2,279 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 128 shares during the period. 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.