PNC Financial Services Group (PNC) PT Raised to $170.00 at Argus

PNC Financial Services Group (NYSE:PNC) had its price target boosted by Argus to $170.00 in a report released on Tuesday. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also weighed in on PNC. Zacks Investment Research raised shares of PNC Financial Services Group from a hold rating to a buy rating and set a $144.00 price objective on the stock in a research report on Tuesday, September 19th. Deutsche Bank reissued a hold rating and issued a $136.00 price objective (up from $130.00) on shares of PNC Financial Services Group in a research report on Tuesday, September 26th. Nomura increased their price objective on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the stock a neutral rating in a research report on Thursday, September 28th. Instinet reissued a neutral rating and issued a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Finally, Robert W. Baird reissued a buy rating and issued a $135.00 price objective on shares of PNC Financial Services Group in a research report on Sunday, October 1st. Eighteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $144.02.

Shares of PNC Financial Services Group (PNC) opened at $155.25 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93. PNC Financial Services Group has a 1 year low of $115.25 and a 1 year high of $156.15. The firm has a market cap of $73,870.00, a PE ratio of 14.88, a P/E/G ratio of 1.47 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company posted $1.97 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. equities research analysts predict that PNC Financial Services Group will post 10.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.76%.

In related news, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the transaction, the insider now directly owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael J. Hannon sold 8,011 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at $9,070,044. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,534 shares of company stock worth $15,952,465. Corporate insiders own 0.43% of the company’s stock.

A number of hedge funds have recently modified their holdings of PNC. Tower Research Capital LLC TRC increased its holdings in PNC Financial Services Group by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares during the period. Atlantic Trust LLC purchased a new position in PNC Financial Services Group during the second quarter valued at approximately $129,000. Legacy Advisors LLC purchased a new position in PNC Financial Services Group during the third quarter valued at approximately $136,000. Quadrant Capital Group LLC increased its holdings in PNC Financial Services Group by 0.3% during the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after buying an additional 4 shares during the period. Finally, Capital Guardian Trust Co. purchased a new position in PNC Financial Services Group during the third quarter valued at approximately $154,000. 81.54% of the stock is currently owned by institutional investors.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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