Wells Fargo & Company Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $235.00

The PNC Financial Services Group (NYSE:PNC) had its target price hoisted by Wells Fargo & Company from $215.00 to $235.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

PNC has been the topic of a number of other research reports. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Barclays lifted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.96.

The PNC Financial Services Group Trading Down 0.4 %

Shares of PNC stock opened at $206.83 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a fifty-two week low of $127.08 and a fifty-two week high of $214.19. The company has a market cap of $82.07 billion, a PE ratio of 17.48, a P/E/G ratio of 2.17 and a beta of 1.13. The stock’s fifty day moving average price is $188.73 and its two-hundred day moving average price is $173.43.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 EPS. Equities analysts predict that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the sale, the chief executive officer now directly owns 536,249 shares in the company, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,788 shares of company stock worth $5,535,978. Corporate insiders own 0.42% 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 added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its stake in shares of The PNC Financial Services Group by 1.0% during the third quarter. TD Private Client Wealth LLC now owns 33,127 shares of the financial services provider’s stock valued at $6,124,000 after acquiring an additional 327 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after buying an additional 252,473 shares during the period. Coldstream Capital Management Inc. grew its position in shares of The PNC Financial Services Group by 13.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,953 shares of the financial services provider’s stock worth $1,483,000 after buying an additional 926 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares during the last quarter. Finally, High Falls Advisors Inc acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $370,000. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.