Evercore ISI Raises The PNC Financial Services Group (NYSE:PNC) Price Target to $212.00

The PNC Financial Services Group (NYSE:PNC) had its price objective lifted by Evercore ISI from $203.00 to $212.00 in a report published on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

PNC has been the subject of several other research reports. Bank of America upgraded shares of The PNC Financial Services Group from a neutral rating to a buy rating and raised their price objective for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an underweight rating in a report on Tuesday, July 30th. Wells Fargo & Company upped 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 note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an underperform rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $177.65.

The PNC Financial Services Group Trading Up 2.2 %

Shares of NYSE PNC opened at $182.26 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average price is $178.13 and its two-hundred day moving average price is $165.08. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $187.78. The stock has a market capitalization of $72.52 billion, a P/E ratio of 15.30, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the firm earned $3.36 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group will post 13.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,824 shares of company stock worth $4,580,223. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PNC. ORG Partners LLC lifted its position in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $26,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the first quarter worth about $29,000. Finally, Fortis Group Advisors LLC raised its position in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.