The PNC Financial Services Group (NYSE:PNC) Rating Increased to Outperform at Raymond James Financial

Raymond James Financial upgraded shares of The PNC Financial Services Group (NYSE:PNC - Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $220.00 price target on the financial services provider's stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen started coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. 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 report on Wednesday, April 16th. Citigroup cut 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 report on Monday, March 24th. Finally, Wells Fargo & Company cut their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $209.11.

The PNC Financial Services Group Stock Up 1.1%

NYSE:PNC traded up $2.07 during mid-day trading on Tuesday, reaching $198.21. The stock had a trading volume of 3,694,061 shares, compared to its average volume of 2,147,039. The stock has a market cap of $78.41 billion, a P/E ratio of 14.00, a PEG ratio of 1.67 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50 day moving average is $178.02 and its 200 day moving average is $180.18. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. As a group, sell-side analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on 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 of the company's stock, valued at $94,190,710.25. This represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,186 shares of company stock worth $1,686,634. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. Rockland Trust Co. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock valued at $1,957,000 after acquiring an additional 53 shares in the last quarter. Kestra Investment Management LLC grew its position in shares of The PNC Financial Services Group by 11.4% in the first quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 58 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after purchasing an additional 59 shares in the last quarter. True Wealth Design LLC grew its position in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. Finally, PKS Advisory Services LLC grew its position in shares of The PNC Financial Services Group by 3.2% in the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 60 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.