The PNC Financial Services Group, Inc (NYSE:PNC) Receives $252.71 Average PT from Analysts

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have been given an average rating of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $258.0882.

PNC has been the topic of several research reports. Morgan Stanley raised their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by company 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 PNC. Monetary Solutions Ltd purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $29,000. Financial Life Planners purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.07 during midday trading on Friday, hitting $251.99. 2,892,810 shares of the stock traded hands, compared to its average volume of 2,235,505. The firm has a 50-day moving average of $229.90 and a two-hundred day moving average of $222.05. The firm has a market capitalization of $101.19 billion, a P/E ratio of 14.64, a PEG ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group has a one year low of $176.88 and a one year high of $256.00.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $3.51 EPS. On average, equities analysts forecast that The PNC Financial Services Group will post 18.83 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a $2.00 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

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.