PNC Financial Services Group Inc (PNC) Given New $130.00 Price Target at Barclays PLC
PNC Financial Services Group Inc (NYSE:PNC) had its price objective lifted by Barclays PLC from $125.00 to $130.00 in a research report issued on Wednesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price target would suggest a potential upside of 9.40% from the company’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Tuesday, April 11th. Goldman Sachs Group Inc upgraded shares of PNC Financial Services Group from a “neutral” rating to a “conviction-buy” rating in a report on Wednesday, February 8th. Rafferty Capital Markets cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a report on Monday. Hilliard Lyons upgraded shares of PNC Financial Services Group from an “underperform” rating to a “hold” rating and lowered their price target for the company from $127.00 to $123.00 in a report on Monday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group in a report on Wednesday, April 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $112.02.
PNC Financial Services Group (NYSE:PNC) traded up 2.02% during midday trading on Wednesday, reaching $118.83. 2,053,899 shares of the company traded hands. PNC Financial Services Group has a one year low of $77.40 and a one year high of $131.83. The company has a 50 day moving average price of $121.86 and a 200-day moving average price of $113.57. The stock has a market capitalization of $57.63 billion, a P/E ratio of 15.67 and a beta of 0.91.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.13. PNC Financial Services Group had a net margin of 23.90% and a return on equity of 8.96%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $1.68 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that PNC Financial Services Group will post $8.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 5th. Stockholders of record on Monday, April 17th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Wednesday, April 12th. PNC Financial Services Group’s dividend payout ratio (DPR) is 30.10%.
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In other news, insider Karen L. Larrimer sold 2,000 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $128.40, for a total transaction of $256,800.00. Following the completion of the transaction, the insider now directly owns 23,820 shares of the company’s stock, valued at approximately $3,058,488. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles E. Bunch bought 1,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were purchased at an average cost of $122.79 per share, with a total value of $122,790.00. Following the completion of the acquisition, the director now owns 2,781 shares in the company, valued at $341,478.99. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 176,942 shares of company stock valued at $22,484,058. Insiders own 0.57% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in PNC Financial Services Group by 7.6% in the fourth quarter. State Street Corp now owns 23,934,316 shares of the financial services provider’s stock valued at $2,799,364,000 after buying an additional 1,686,493 shares during the period. FMR LLC raised its position in PNC Financial Services Group by 52.5% in the fourth quarter. FMR LLC now owns 11,520,975 shares of the financial services provider’s stock valued at $1,347,492,000 after buying an additional 3,965,414 shares during the period. Lone Pine Capital LLC purchased a new position in PNC Financial Services Group during the fourth quarter valued at $490,781,000. Norges Bank purchased a new position in PNC Financial Services Group during the fourth quarter valued at $479,996,000. Finally, Pioneer Investment Management Inc. raised its position in PNC Financial Services Group by 34.4% in the third quarter. Pioneer Investment Management Inc. now owns 3,384,058 shares of the financial services provider’s stock valued at $304,870,000 after buying an additional 865,404 shares during the period. 78.71% of the stock is owned by hedge funds and other institutional investors.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its products and services nationally, as well as other products and services.
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