PNC Financial Services Group (NYSE:PNC) Price Target Raised to $146.00

PNC Financial Services Group (NYSE:PNC) had its target price upped by investment analysts at UBS Group from $142.00 to $146.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price indicates a potential upside of 0.37% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Zacks Investment Research lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective for the company. in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Morgan Stanley set a $141.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Co increased their price objective on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.74.

PNC opened at $145.46 on Monday. The stock has a market capitalization of $63.90 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.74 and a beta of 1.13. The company has a fifty day moving average of $138.84 and a 200 day moving average of $134.94. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $146.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.89.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period last year, the company posted $2.82 earnings per share. PNC Financial Services Group’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that PNC Financial Services Group will post 11.32 earnings per share for the current year.

In other news, Director Charles E. Bunch bought 1,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $124.38 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gregory H. Kozich sold 3,441 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $144.24, for a total transaction of $496,329.84. Following the completion of the sale, the insider now 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 have sold 39,089 shares of company stock valued at $5,472,343 in the last quarter. 0.37% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth about $29,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth about $40,000. Old North State Trust LLC lifted its holdings in shares of 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 worth $43,000 after acquiring an additional 160 shares during the last quarter. Smith Asset Management Group LP lifted its holdings in shares of 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 worth $49,000 after acquiring an additional 300 shares during the last quarter. Finally, Prestige Wealth Management Group LLC bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth about $55,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

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.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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

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