Barclays Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $229.00

The PNC Financial Services Group (NYSE:PNC) had its target price raised by Barclays from $209.00 to $229.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 20.57% from the stock’s previous close.

A number of other brokerages have also commented on PNC. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. UBS Group increased their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Stock Down 1.3 %

PNC traded down $2.41 during trading on Wednesday, reaching $189.93. The stock had a trading volume of 2,882,933 shares, compared to its average volume of 1,861,134. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $196.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average is $179.61 and its two-hundred day moving average is $166.61. The company has a market capitalization of $75.57 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that The PNC Financial Services Group will post 13.18 earnings per share for the current year.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the sale, the chief executive officer now directly owns 562,153 shares of the company’s stock, valued at $99,315,570.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,662 shares of company stock valued at $4,442,555. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently bought and sold shares of the stock. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $26,000. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $33,000. 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.