Wells Fargo & Company Boosts The PNC Financial Services Group (NYSE:PNC) Price Target to $215.00

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by equities research analysts at Wells Fargo & Company from $204.00 to $215.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.88% from the stock’s current price.

PNC has been the subject of a number of other research reports. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Royal Bank of Canada raised their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Stephens raised their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley raised their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, UBS Group raised their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $188.80 on Wednesday. The stock has a 50 day moving average of $180.44 and a two-hundred day moving average of $166.93. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $196.64. The company has a market capitalization of $75.12 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company earned $3.60 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group will post 13.18 EPS for the current year.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.00, for a total value of $229,770.00. Following the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at approximately $101,241,065. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,420 shares of company stock valued at $4,223,131. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently made changes to their positions in the stock. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co bought a new position in The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC bought a new position in The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group during the first quarter worth about $29,000. Finally, Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group during the second quarter worth about $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.