The PNC Financial Services Group, Inc (NYSE:PNC) Receives $212.76 Consensus Target Price from Brokerages

Shares of The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $212.76.

PNC has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup raised their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the company from $206.00 to $202.00 in a research report on Monday, March 31st.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $0.55 during trading hours on Friday, reaching $196.54. 2,548,240 shares of the company's stock traded hands, compared to its average volume of 2,145,522. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $77.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07. The firm's 50 day simple moving average is $182.39 and its 200-day simple moving average is $180.29.

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

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be paid a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Insider Activity at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,545 shares of company stock valued at $1,590,080. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of PNC. Avior Wealth Management LLC grew its stake in The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock worth $226,000 after acquiring an additional 52 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock valued at $1,957,000 after purchasing an additional 53 shares during the period. Kestra Investment Management LLC grew its stake in 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 worth $99,000 after purchasing an additional 58 shares in the last quarter. Bank of Stockton increased its holdings in The PNC Financial Services Group by 1.2% during the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider's stock worth $904,000 after purchasing an additional 58 shares during the period. Finally, Venture Visionary Partners LLC raised its position in The PNC Financial Services Group by 2.2% during the 2nd quarter. Venture Visionary Partners LLC now owns 2,677 shares of the financial services provider's stock valued at $499,000 after purchasing an additional 58 shares in the last quarter. 83.53% of the stock is 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.