PNC Financial Services Group (NYSE:PNC) Given New $142.00 Price Target at JPMorgan Chase & Co.
PNC Financial Services Group (NYSE:PNC) had its price objective increased by JPMorgan Chase & Co. from $137.50 to $142.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.
Several other brokerages also recently weighed in on PNC. ValuEngine downgraded shares of Acceleron Pharma from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the company a hold rating in a research report on Monday, July 8th. Barclays raised their price target on shares of Zimmer Biomet from $113.00 to $117.00 and gave the company an underweight rating in a research report on Monday, April 15th. Zacks Investment Research downgraded shares of Hope Bancorp from a strong-buy rating to a hold rating in a research report on Tuesday, March 26th. Finally, UBS Group set a $169.00 price target on shares of M&T Bank and gave the company a hold rating in a research report on Tuesday, April 2nd. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $142.99.
Shares of NYSE PNC opened at $142.19 on Tuesday. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $147.23. The firm’s 50 day simple moving average is $134.85. The company has a market capitalization of $63.22 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be issued a $1.15 dividend. The ex-dividend date is Thursday, July 18th. This represents a $4.60 annualized dividend and a yield of 3.24%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 35.48%.
In related news, insider Joseph E. Rockey sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the sale, the insider now owns 24,747 shares in the company, valued at $3,340,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.
Several institutional investors have recently modified their holdings of PNC. Princeton Global Asset Management LLC bought a new stake in PNC Financial Services Group in the 4th quarter valued at $543,000. Executive Wealth Management LLC bought a new stake in PNC Financial Services Group in the 4th quarter valued at $29,000. GYL Financial Synergies LLC bought a new stake in PNC Financial Services Group in the 1st quarter valued at $940,000. Green Square Capital LLC increased its holdings in PNC Financial Services Group by 2.4% in the 4th quarter. Green Square Capital LLC now owns 4,363 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 102 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its holdings in PNC Financial Services Group by 8.1% in the 1st quarter. Wesbanco Bank Inc. now owns 89,898 shares of the financial services provider’s stock valued at $11,027,000 after acquiring an additional 6,739 shares during the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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