The PNC Financial Services Group (NYSE:PNC) Sets New 12-Month High at $186.64

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) hit a new 52-week high on Thursday . The company traded as high as $186.64 and last traded at $184.71, with a volume of 134611 shares traded. The stock had previously closed at $182.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Jefferies Financial Group boosted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Evercore ISI boosted their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Trading Up 2.3 %

The business has a 50 day moving average of $176.37 and a two-hundred day moving average of $162.50. 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 firm has a market capitalization of $74.32 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.36 earnings per share. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock valued at $4,418,109 over the last ninety days. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently modified their holdings of the business. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $31,000. 83.53% of the stock is owned by institutional investors.

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.