The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $235.00 at Citigroup

The PNC Financial Services Group (NYSE:PNC) had its target price upped by Citigroup from $200.00 to $235.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

PNC has been the subject of several other reports. Evercore ISI upped their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $189.15.

The PNC Financial Services Group Stock Up 1.1 %

NYSE:PNC opened at $212.39 on Monday. The PNC Financial Services Group has a 1 year low of $127.49 and a 1 year high of $214.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $84.27 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.20 and a beta of 1.13. The stock has a 50-day moving average price of $191.64 and a two-hundred day moving average price of $175.22.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.01%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the transaction, the chief executive officer now directly owns 548,491 shares of the company’s stock, valued at $99,468,842.85. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,788 shares of company stock worth $5,573,027. Company insiders own 0.42% of the company’s stock.

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 PNC. Dynasty Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at $225,000. Ancora Advisors LLC increased its stake in shares of The PNC Financial Services Group by 0.8% in the 1st quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 73 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of The PNC Financial Services Group by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 1,596 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of The PNC Financial Services Group by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 659,280 shares of the financial services provider’s stock valued at $106,540,000 after purchasing an additional 7,748 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $1,421,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.