The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $164.00 at Jefferies Financial Group

The PNC Financial Services Group (NYSE:PNC) had its price target raised by Jefferies Financial Group from $162.00 to $164.00 in a research report released on Wednesday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an outperform rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated an underperform rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of Hold and an average price target of $158.56.

The PNC Financial Services Group Stock Down 0.6 %

PNC opened at $157.84 on Wednesday. The business has a 50 day simple moving average of $155.21 and a 200-day simple moving average of $153.02. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24. The stock has a market capitalization of $62.81 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 EPS. On average, equities analysts anticipate that The PNC Financial Services Group will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,132 shares of company stock valued at $328,809. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steph & Co. raised its holdings in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the period. Bangor Savings Bank raised its holdings in shares of The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the period. Triangle Securities Wealth Management raised its holdings in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the period. Cooper Financial Group boosted its stake in The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 70 shares during the period. Finally, Berkshire Bank grew its position in The PNC Financial Services Group by 2.0% during the 1st quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds 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.