PNC Financial Services Group (NYSE:PNC) Given a $149.00 Price Target at Wells Fargo & Co

Wells Fargo & Co set a $149.00 price target on PNC Financial Services Group (NYSE:PNC) in a research report released on Wednesday, December 20th. The firm currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on PNC. Piper Jaffray Companies reiterated a buy rating and set a $151.00 target price on shares of PNC Financial Services Group in a research note on Monday, December 4th. Zacks Investment Research downgraded shares of PNC Financial Services Group from a buy rating to a hold rating in a research report on Monday, October 30th. Nomura boosted their price objective on shares of PNC Financial Services Group from $132.00 to $135.00 and gave the company a neutral rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of PNC Financial Services Group from $139.50 to $140.50 and gave the company an overweight rating in a research report on Wednesday, November 1st. Finally, Citigroup reissued a neutral rating and set a $144.00 price objective (up previously from $125.00) on shares of PNC Financial Services Group in a research report on Monday, October 9th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. PNC Financial Services Group has an average rating of Hold and a consensus price target of $142.33.

Shares of PNC Financial Services Group (PNC) traded up $0.35 on Wednesday, reaching $151.84. 3,275,203 shares of the company’s stock were exchanged, compared to its average volume of 2,020,000. The stock has a market cap of $72,250.00, a price-to-earnings ratio of 18.49, a PEG ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. PNC Financial Services Group has a 1-year low of $113.66 and a 1-year high of $153.50.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS. research analysts expect that PNC Financial Services Group will post 8.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 22.53%.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 3,135 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the completion of the transaction, the insider now owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,523 shares of company stock valued at $15,392,168 in the last three months. Insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of PNC Financial Services Group by 0.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Hudock Capital Group LLC raised its position in PNC Financial Services Group by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 11 shares during the period. Telemus Capital LLC raised its position in PNC Financial Services Group by 0.3% in the 2nd quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 16 shares during the period. Green Square Capital LLC raised its position in PNC Financial Services Group by 0.4% in the 2nd quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 18 shares during the period. Finally, Abner Herrman & Brock LLC raised its position in PNC Financial Services Group by 0.7% in the 2nd quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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