The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $255.00 at Citigroup

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Citigroup from $245.00 to $255.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

PNC has been the subject of a number of other research reports. TD Cowen upped their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Oppenheimer boosted their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Down 1.2%

Shares of NYSE PNC opened at $216.66 on Friday. The stock has a market capitalization of $87.00 billion, a P/E ratio of 12.59, a PEG ratio of 0.91 and a beta of 0.94. The stock’s fifty day moving average is $213.76 and its 200 day moving average is $209.44. The PNC Financial Services Group has a 52 week low of $166.02 and a 52 week high of $243.94. 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 (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.51 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the sale, the executive vice president directly owned 21,120 shares of the company’s stock, valued at $4,940,179.20. The trade was a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 12.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after buying an additional 6,572 shares during the period. US Bancorp DE grew its holdings in The PNC Financial Services Group by 13.4% during the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after acquiring an additional 34,009 shares during the period. Envestnet Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after acquiring an additional 22,325 shares in the last quarter. Savant Capital LLC raised its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after acquiring an additional 7,064 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after purchasing an additional 26,305 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.