The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $251.00 at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price objective boosted by JPMorgan Chase & Co. from $228.50 to $251.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Finally, TD Cowen increased their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $240.98 on Monday. The firm’s 50 day moving average is $215.86 and its two-hundred day moving average is $200.87. The firm has a market capitalization of $94.50 billion, a P/E ratio of 14.53, a PEG ratio of 1.01 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business posted $3.77 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The PNC Financial Services Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after purchasing an additional 6,572 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after buying an additional 22,325 shares in the last quarter. National Pension Service boosted its stake in The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after purchasing an additional 26,305 shares during the period. Savant Capital LLC boosted its position in shares of The PNC Financial Services Group by 8.7% during the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after buying an additional 7,064 shares during the period. Finally, First Horizon Corp bought a new position in shares of The PNC Financial Services Group during the third quarter worth about $8,360,000. 83.53% of the stock is owned by institutional investors.

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.