Wells Fargo & Co set a $157.00 target price on PNC Financial Services Group (NYSE:PNC) in a report issued on Tuesday morning. The brokerage currently has a hold rating on the financial services provider’s stock.
Several other equities research analysts have also recently commented on PNC. Nomura increased their price target on PNC Financial Services Group from $129.00 to $132.00 and gave the company a neutral rating in a report on Thursday, September 28th. Robert W. Baird reaffirmed a buy rating and issued a $135.00 price target on shares of PNC Financial Services Group in a report on Sunday, October 1st. Piper Jaffray Companies increased their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the company an overweight rating in a report on Monday, October 16th. Royal Bank of Canada reissued a buy rating on shares of PNC Financial Services Group in a research note on Monday, October 16th. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a $139.50 target price (up previously from $138.50) on shares of PNC Financial Services Group in a research note on Friday, October 6th. Eighteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $144.02.
PNC Financial Services Group (NYSE:PNC) traded up $1.54 during trading hours on Tuesday, hitting $155.25. The company had a trading volume of 2,735,639 shares, compared to its average volume of 2,622,931. PNC Financial Services Group has a 12-month low of $115.25 and a 12-month high of $156.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $73,870.00, a PE ratio of 14.88, a PEG ratio of 1.47 and a beta of 0.90.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the firm earned $1.97 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. sell-side analysts forecast that PNC Financial Services Group will post 10.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. PNC Financial Services Group’s dividend payout ratio is currently 28.76%.
In other news, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the completion of the transaction, the insider now directly owns 103,299 shares in the company, valued at $15,031,037.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the transaction, the insider now owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,523 shares of company stock valued at $14,717,168. Company insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Tower Research Capital LLC TRC boosted its holdings in PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 91 shares during the period. Atlantic Trust LLC purchased a new position in PNC Financial Services Group in the second quarter valued at $129,000. Legacy Advisors LLC purchased a new position in PNC Financial Services Group in the third quarter valued at $136,000. Quadrant Capital Group LLC boosted its holdings in PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 4 shares during the period. Finally, Capital Guardian Trust Co. purchased a new position in PNC Financial Services Group in the third quarter valued at $154,000. Institutional investors and hedge funds own 81.54% 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.
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