The PNC Financial Services Group (NYSE:PNC) Given New $164.00 Price Target at Jefferies Financial Group

The PNC Financial Services Group (NYSE:PNCFree Report) had its target price hoisted by Jefferies Financial Group from $162.00 to $164.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on PNC. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods restated an underperform rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a reduce rating to a hold rating and boosted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Finally, Bank of America upped their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $158.56.

Read Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $157.84 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $62.81 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The firm has a 50-day moving average of $155.21 and a two-hundred day moving average of $153.02. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. On average, research analysts forecast that The PNC Financial Services Group will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be issued a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, 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 sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,132 shares of company stock worth $328,809. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $28,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

About The PNC Financial Services Group

(Get Free Report)

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.

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Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

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