The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $180.00 by Analysts at Morgan Stanley

by · The Cerbat Gem

The PNC Financial Services Group (NYSE:PNC – Free Report) had its target price hoisted by Morgan Stanley from $177.00 to $180.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $185.71.

Check Out Our Latest Research Report on PNC

The PNC Financial Services Group Price Performance

PNC opened at $189.92 on Wednesday. The company has a market capitalization of $75.57 billion, a P/E ratio of 15.95, a PEG ratio of 2.01 and a beta of 1.14. The company has a 50-day moving average of $180.07 and a 200-day moving average of $166.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $196.64.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. Equities analysts expect that The PNC Financial Services Group will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.37%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock valued at $4,442,555 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in the stock. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at $12,548,000. Integrated Advisors Network LLC grew its holdings in The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after buying an additional 148 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Equity Investment Corp lifted its holdings in shares of The PNC Financial Services Group by 3.4% during the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after buying an additional 22,188 shares during the last quarter. Finally, Duality Advisers LP boosted its position in shares of The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after acquiring an additional 10,743 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

(Get Free Report)

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.

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