The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $177.00

The PNC Financial Services Group (NYSE:PNC) had its price target raised by stock analysts at Morgan Stanley from $165.00 to $177.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.96% from the stock’s current price.

A number of other brokerages have also commented on PNC. Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America raised their price objective on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $176.09.

The PNC Financial Services Group Stock Up 0.8 %

Shares of The PNC Financial Services Group stock traded up $1.39 during trading on Tuesday, hitting $182.39. The company’s stock had a trading volume of 98,241 shares, compared to its average volume of 1,914,625. 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 company has a fifty day simple moving average of $160.39 and a two-hundred day simple moving average of $155.29. The company has a market capitalization of $72.57 billion, a PE ratio of 15.31, a P/E/G ratio of 2.33 and a beta of 1.15. The PNC Financial Services Group has a 52 week low of $109.40 and a 52 week high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $3.36 EPS. Equities research analysts predict that The PNC Financial Services Group will post 13 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,903 shares of company stock worth $1,466,406. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in PNC. Essex Savings Bank increased its stake in The PNC Financial Services Group by 14.5% in the 4th quarter. Essex Savings Bank now owns 3,358 shares of the financial services provider’s stock worth $520,000 after buying an additional 425 shares during the period. First Citizens Bank & Trust Co. increased its stake in The PNC Financial Services Group by 6.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 6,080 shares of the financial services provider’s stock worth $941,000 after buying an additional 372 shares during the period. TIAA Trust National Association increased its stake in The PNC Financial Services Group by 41.1% in the 4th quarter. TIAA Trust National Association now owns 120,448 shares of the financial services provider’s stock worth $18,651,000 after buying an additional 35,082 shares during the period. Regent Peak Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth about $231,000. Finally, Founders Capital Management LLC increased its stake in The PNC Financial Services Group by 57.2% in the 4th quarter. Founders Capital Management LLC now owns 3,159 shares of the financial services provider’s stock worth $489,000 after buying an additional 1,149 shares during the period. Hedge funds and other institutional investors 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.