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

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

Analyst Ratings Changes

PNC has been the subject of several analyst reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Stock Down 0.4 %

The firm has a market cap of $74.08 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.00 and a beta of 1.14. The business’s 50 day moving average price is $177.11 and its 200 day moving average price is $162.90. 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 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 analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.36 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

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

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the sale, the chief executive officer now owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the sale, the chief executive officer now owns 567,041 shares of the company’s stock, valued at approximately $89,649,182.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Insiders have sold 24,622 shares of company stock valued at $4,319,914 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the stock. Grayhawk Investment Strategies Inc. purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $1,200,000. Envestnet Asset Management Inc. lifted its holdings in The PNC Financial Services Group by 0.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock valued at $239,792,000 after purchasing an additional 6,657 shares in the last quarter. Groupama Asset Managment purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $23,578,000. Integrated Advisors Network LLC lifted its holdings in The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 148 shares in the last quarter. Finally, Equity Investment Corp lifted its holdings in The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.