Bank of America Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $226.00

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective increased by equities researchers at Bank of America from $223.00 to $226.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Bank of America's target price would indicate a potential upside of 15.25% from the stock's current price.

Several other research firms also recently weighed in on PNC. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. Barclays reduced their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Citigroup reduced their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.94.

The PNC Financial Services Group Trading Up 1.1%

NYSE:PNC traded up $2.16 during midday trading on Thursday, hitting $196.09. The stock had a trading volume of 3,097,025 shares, compared to its average volume of 2,141,858. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $216.26. The company has a market capitalization of $77.57 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.54 and a beta of 1.07. The stock has a 50-day moving average of $181.20 and a 200 day moving average of $180.24. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.39 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director owned 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,545 shares of company stock worth $1,590,080 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the stock. Saudi Central Bank purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its holdings in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $35,000. WPG Advisers LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $36,000. Finally, REAP Financial Group LLC boosted its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.