The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $235.00 at Citigroup

The PNC Financial Services Group (NYSE:PNC) had its price objective upped by Citigroup from $200.00 to $235.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Stephens increased their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $189.15.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $215.00 on Monday. The firm has a market cap of $85.31 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The PNC Financial Services Group has a 52-week low of $127.83 and a 52-week high of $216.18. The business’s 50 day moving average price is $192.94 and its two-hundred day moving average price is $175.90. 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 (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.60 EPS. On average, equities analysts anticipate that The PNC Financial Services Group will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,788 shares of company stock valued at $5,573,027 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently bought and sold shares of the company. Dynasty Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $225,000. Ancora Advisors LLC lifted its holdings in The PNC Financial Services Group by 0.8% during the first quarter. Ancora Advisors LLC now owns 9,391 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 73 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in The PNC Financial Services Group by 13.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,755 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,596 shares during the period. California State Teachers Retirement System increased its stake in shares of The PNC Financial Services Group by 1.2% in the first quarter. California State Teachers Retirement System now owns 659,280 shares of the financial services provider’s stock worth $106,540,000 after purchasing an additional 7,748 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $1,421,000. Hedge funds and other 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.