Vining Sparks reaffirmed their buy rating on shares of PNC Financial Services Group (NYSE:PNC) in a report released on Tuesday. Vining Sparks currently has a $160.00 price target on the financial services provider’s stock.
Shares of NYSE:PNC opened at $124.26 on Tuesday. PNC Financial Services Group has a 1-year low of $121.61 and a 1-year high of $163.59. The company has a market cap of $63.23 billion, a PE ratio of 14.62, a PEG ratio of 1.24 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.16.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. During the same quarter last year, the firm posted $2.16 EPS. Research analysts expect that PNC Financial Services Group will post 10.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Wednesday, October 17th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $3.80 annualized dividend and a dividend yield of 3.06%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.71%.
In related news, insider Michael J. Hannon sold 5,247 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the completion of the transaction, the insider now owns 58,239 shares in the company, valued at approximately $8,233,829.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff bought 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The shares were bought at an average price of $142.15 per share, with a total value of $99,505.00. Following the transaction, the director now directly owns 1,050 shares in the company, valued at $149,257.50. The disclosure for this purchase can be found here. Insiders have sold a total of 58,957 shares of company stock valued at $8,301,859 in the last 90 days. 0.38% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc raised its position in PNC Financial Services Group by 12.8% in the 1st quarter. NEXT Financial Group Inc now owns 3,086 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 350 shares during the last quarter. Putnam FL Investment Management Co. raised its position in PNC Financial Services Group by 0.6% in the 2nd quarter. Putnam FL Investment Management Co. now owns 62,570 shares of the financial services provider’s stock valued at $8,453,000 after purchasing an additional 364 shares during the last quarter. Argent Trust Co raised its position in PNC Financial Services Group by 10.1% in the 2nd quarter. Argent Trust Co now owns 3,981 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 365 shares during the last quarter. Coastline Trust Co raised its position in PNC Financial Services Group by 9.6% in the 2nd quarter. Coastline Trust Co now owns 4,225 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 370 shares during the last quarter. Finally, Windsor Group LTD raised its position in PNC Financial Services Group by 11.9% in the 2nd quarter. Windsor Group LTD now owns 3,537 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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