PNC Financial Services Group (NYSE:PNC) had its target price hoisted by UBS Group from $142.00 to $146.00 in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the financial services provider’s stock.
A number of other analysts have also issued reports on PNC. Zacks Investment Research lowered PNC Financial Services Group from a hold rating to a sell rating and set a $147.00 target price on the stock. in a report on Tuesday, October 1st. ValuEngine lowered PNC Financial Services Group from a hold rating to a sell rating in a report on Tuesday, October 15th. Wells Fargo & Co lifted their price objective on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a market perform rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Finally, Robert W. Baird set a $141.00 price objective on PNC Financial Services Group and gave the stock a buy rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. PNC Financial Services Group currently has a consensus rating of Hold and a consensus target price of $143.74.
PNC traded up $0.47 during midday trading on Monday, reaching $146.00. The company’s stock had a trading volume of 925,498 shares, compared to its average volume of 1,894,292. The stock has a market cap of $63.90 billion, a P/E ratio of 13.63, a PEG ratio of 1.74 and a beta of 1.13. The company has a fifty day simple moving average of $138.49 and a 200 day simple moving average of $134.84. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a twelve month low of $108.45 and a twelve month high of $146.39.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, October 16th. PNC Financial Services Group’s payout ratio is presently 42.95%.
In other news, Director Charles E. Bunch acquired 1,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $124.38 per share, with a total value of $124,380.00. Following the acquisition, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacy M. Juchno sold 710 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.90, for a total value of $100,749.00. Following the sale, the executive vice president now directly owns 4,583 shares in the company, valued at approximately $650,327.70. The disclosure for this sale can be found here. Insiders have sold a total of 54,089 shares of company stock worth $7,547,343 in the last three months. 0.37% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in PNC. Westside Investment Management Inc. acquired a new stake in PNC Financial Services Group in the 2nd quarter valued at $29,000. Redhawk Wealth Advisors Inc. acquired a new stake in PNC Financial Services Group in the 2nd quarter valued at $40,000. Old North State Trust LLC boosted its stake in PNC Financial Services Group by 108.8% in the 3rd 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 in the last quarter. Smith Asset Management Group LP boosted its stake in PNC Financial Services Group by 508.5% in the 2nd 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 in the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in PNC Financial Services Group in the 2nd quarter valued at $55,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.
PNC Financial Services Group Company Profile
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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