Wells Fargo & Company Increases The PNC Financial Services Group (NYSE:PNC) Price Target to $194.00

The PNC Financial Services Group (NYSE:PNC) had its target price boosted by Wells Fargo & Company from $185.00 to $194.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Odeon Capital Group raised shares of The PNC Financial Services Group from a hold rating to a buy rating and set a $153.38 target price on the stock in a research note on Thursday, December 14th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an underperform rating in a research note on Wednesday, January 3rd. UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a research note on Thursday, January 18th. HSBC raised shares of The PNC Financial Services Group from a reduce rating to a hold rating and boosted their price target for the company from $141.00 to $155.00 in a research note on Thursday. Finally, Stephens reissued an equal weight rating and issued a $138.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $152.87.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $161.63 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $149.96 and its two-hundred day moving average is $138.25. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market capitalization of $64.30 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm earned $3.49 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group will post 12.41 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PNC. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,039,481,000. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after buying an additional 2,538,916 shares in the last quarter. Capital International Investors boosted its holdings in shares of The PNC Financial Services Group by 14.4% in the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after buying an additional 1,978,854 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares in the last quarter. Institutional investors and hedge funds 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.