PNC Financial Services Group (NYSE:PNC) PT Raised to $147.00

PNC Financial Services Group (NYSE:PNC) had its price target upped by equities research analysts at Wells Fargo & Co from $134.00 to $147.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 2.42% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. UBS Group raised their target price on shares of PNC Financial Services Group from $139.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Robert W. Baird set a $141.00 target price on shares of PNC Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 26th. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley set a $141.00 price target on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $143.32.

Shares of PNC Financial Services Group stock traded up $0.86 on Thursday, hitting $143.52. The stock had a trading volume of 1,843,053 shares, compared to its average volume of 2,010,599. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a one year low of $108.45 and a one year high of $144.70. The stock has a market cap of $63.52 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.83 and a beta of 1.13. The stock’s 50-day simple moving average is $137.59 and its two-hundred day simple moving average is $134.56.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter last year, the business earned $2.82 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that PNC Financial Services Group will post 11.22 EPS for the current fiscal year.

In other PNC Financial Services Group news, Director Charles E. Bunch purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $124.38 per share, with a total value of $124,380.00. Following the completion of the purchase, the director now directly owns 3,781 shares of the company’s stock, valued at approximately $470,280.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory H. Kozich sold 3,441 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $144.24, for a total value of $496,329.84. Following the completion of the sale, the insider now directly owns 6,639 shares of the company’s stock, valued at approximately $957,609.36. The disclosure for this sale can be found here. Insiders sold 148,374 shares of company stock valued at $20,769,972 in the last ninety days. 0.37% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PNC. Westside Investment Management Inc. purchased a new position in PNC Financial Services Group during the second quarter valued at $29,000. Meridian Wealth Management LLC purchased a new position in PNC Financial Services Group during the first quarter valued at $33,000. Redhawk Wealth Advisors Inc. purchased a new position in PNC Financial Services Group during the second quarter valued at $40,000. Old North State Trust LLC lifted its position in PNC Financial Services Group by 108.8% during the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after buying an additional 160 shares during the period. Finally, Smith Asset Management Group LP lifted its position in PNC Financial Services Group by 508.5% during the second quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares during the period. 80.81% of the stock is owned by institutional investors and hedge funds.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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The Fly

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

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