The PNC Financial Services Group (NYSE:PNC) Trading Up 0.7%

The PNC Financial Services Group, Inc. (NYSE:PNC)’s share price rose 0.7% on Tuesday . The stock traded as high as $157.21 and last traded at $157.01. Approximately 288,936 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,124,715 shares. The stock had previously closed at $155.93.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. Evercore ISI lowered their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Morgan Stanley boosted their price target on 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. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Bank of America upped their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Performance

The firm has a market capitalization of $62.73 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.72 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average is $152.03 and its two-hundred day moving average is $142.51.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm earned $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.93%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on 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 $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the third quarter worth about $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $295,000. Institutional investors own 83.53% of the company’s stock.

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.