The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $208.00 at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price objective raised by Morgan Stanley from $199.00 to $208.00 in a report released on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the financial services provider’s stock.

A number of other brokerages have also commented on PNC. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $198.36 on Friday. The company has a fifty day moving average price of $201.51 and a 200 day moving average price of $186.74. The PNC Financial Services Group has a 1-year low of $139.69 and a 1-year high of $216.26. The firm has a market cap of $78.71 billion, a PE ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,030 shares of company stock worth $5,928,202 in the last 90 days. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Valley Wealth Managers Inc. boosted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $51,000. Finally, Quarry LP raised its holdings in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Company Profile

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.