PNC Financial Services Group, Inc. (The) (PNC) Price Target Increased to $140.50 by Analysts at J P Morgan Chase & Co

PNC Financial Services Group, Inc. (The) (NYSE:PNC) had its target price lifted by J P Morgan Chase & Co from $139.50 to $140.50 in a research note released on Wednesday morning. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a research report on Monday, July 17th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a report on Wednesday, July 5th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating and set a $140.00 price target on the stock in a report on Tuesday, July 4th. Deutsche Bank AG reissued a buy rating and issued a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Finally, Robert W. Baird reissued a buy rating and issued a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has an average rating of Hold and an average target price of $133.99.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis.

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The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Karen L. Larrimer sold 3,135 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the transaction, the insider now directly owns 20,449 shares in the company, valued at approximately $2,801,104.02. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC grew its position in PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 710 shares during the last quarter. Tower Research Capital LLC TRC grew its position in PNC Financial Services Group, Inc. (The) by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 91 shares during the last quarter. First Interstate Bank grew its position in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 243 shares during the last quarter. Atlantic Trust LLC bought a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter valued at $129,000. Finally, Legacy Advisors LLC bought a new position in PNC Financial Services Group, Inc. (The) in the 3rd quarter valued at $136,000. 80.79% of the stock is currently owned by institutional investors.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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