The PNC Financial Services Group (NYSE:PNC) Given New $168.00 Price Target at Bank of America

The PNC Financial Services Group (NYSE:PNC) had its price target increased by research analysts at Bank of America from $165.00 to $168.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 14.09% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, UBS Group increased their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $147.25 on Wednesday. The stock has a market cap of $58.58 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24. The firm has a 50-day moving average of $151.80 and a two-hundred day moving average of $141.68.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group will post 12.42 earnings per share for the current year.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $1,039,481,000. Franklin Resources Inc. grew its position in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares during the period. Capital International Investors boosted its holdings in The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. Finally, Morgan Stanley boosted its holdings in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

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.