The PNC Financial Services Group (NYSE:PNC) Given New $230.00 Price Target at Wells Fargo & Company

The PNC Financial Services Group (NYSE:PNC) had its target price decreased by Wells Fargo & Company from $235.00 to $230.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on PNC. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.25.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $171.83 on Friday. The company has a market capitalization of $68.00 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $187.91 and a 200-day moving average of $192.01. The PNC Financial Services Group has a one year low of $143.52 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares in the company, valued at approximately $97,361,804. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 12,420 shares of company stock valued at $2,342,313 over the last ninety days. Corporate 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 PNC. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. grew its holdings in The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. PKS Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $357,000. Finally, Root Financial Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $346,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.