Bank of America Raises The PNC Financial Services Group (NYSE:PNC) Price Target to $168.00

The PNC Financial Services Group (NYSE:PNC) had its target price upped by Bank of America from $165.00 to $168.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on PNC. Keefe, Bruyette & Woods reaffirmed an underperform rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday. Jefferies Financial Group reduced their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating for the company in a report on Wednesday. Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a report on Wednesday. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a neutral rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $156.63.

The PNC Financial Services Group Trading Up 3.0 %

PNC opened at $152.30 on Wednesday. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market cap of $60.59 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The company has a fifty day moving average price of $151.89 and a two-hundred day moving average price of $141.95.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $3.98 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in The PNC Financial Services Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 37,008,602 shares of the financial services provider’s stock worth $5,730,782,000 after acquiring an additional 158,093 shares during the period. Capital International Investors raised its position in The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after acquiring an additional 1,978,854 shares during the period. FMR LLC raised its position in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after acquiring an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock valued at $915,146,000 after purchasing an additional 171,876 shares during the period. Institutional investors 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.