The PNC Financial Services Group (NYSE:PNC) Given New $257.00 Price Target at Barclays

The PNC Financial Services Group (NYSE:PNC) had its price objective raised by Barclays from $229.00 to $257.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently commented on PNC. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $202.56.

The PNC Financial Services Group Stock Performance

PNC opened at $195.35 on Monday. The firm’s 50-day moving average price is $201.08 and its 200-day moving average price is $184.87. The company has a market cap of $77.51 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $3.60 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.28%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $185.00, for a total value of $229,770.00. Following the completion of the transaction, the chief executive officer now directly owns 547,249 shares in the company, valued at approximately $101,241,065. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,272 shares of company stock worth $6,155,103. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several large investors have recently made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Valley Wealth Managers Inc. boosted its stake in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Quarry LP grew its holdings in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.