The PNC Financial Services Group (NYSE:PNC) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $250.00 target price on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Oppenheimer lifted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. TD Cowen boosted their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Barclays raised their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.26.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $205.34 on Thursday. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $243.94. The firm has a market capitalization of $82.83 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $219.31 and a 200 day moving average of $205.12.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.77 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president directly owned 18,867 shares in the company, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Brighton Jones LLC boosted its stake in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the period. Empowered Funds LLC raised its position in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 6.1% in the second quarter. CreativeOne Wealth LLC now owns 3,496 shares of the financial services provider’s stock worth $652,000 after buying an additional 202 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 18,542.0% during the second quarter. Laurel Wealth Advisors LLC now owns 63,010 shares of the financial services provider’s stock worth $11,746,000 after acquiring an additional 62,672 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.