The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $260.00

The PNC Financial Services Group (NYSE:PNC) had its target price upped by TD Cowen from $250.00 to $260.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

PNC has been the topic of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. UBS Group increased their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Barclays raised their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.00.

The PNC Financial Services Group Trading Down 1.6%

The PNC Financial Services Group stock opened at $221.98 on Tuesday. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $227.78. The business’s fifty day moving average is $205.70 and its 200 day moving average is $198.05. The stock has a market capitalization of $87.05 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.77 EPS. On average, sell-side analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of The PNC Financial Services Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock worth $7,174,760,000 after purchasing an additional 521,455 shares in the last quarter. State Street Corp boosted its holdings in The PNC Financial Services Group by 0.5% in the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock worth $3,464,462,000 after buying an additional 85,291 shares during the period. Capital International Investors increased its stake in The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after buying an additional 609,755 shares in the last quarter. Geode Capital Management LLC increased its stake in The PNC Financial Services Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock worth $1,628,302,000 after buying an additional 93,346 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after acquiring an additional 5,581,102 shares during the period. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.