Credit Suisse Group Boosts PNC Financial Services Group, Inc. (The) (PNC) Price Target to $137.00 – The Ledger Gazette


PNC Financial Services Group, Inc. (The) (NYSE:PNC) had its price target lifted by Credit Suisse Group from $135.00 to $137.00 in a research note released on Monday, October 16th. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently commented on PNC. Nomura increased their price target on PNC Financial Services Group, Inc. (The) from $129.00 to $132.00 and gave the company a neutral rating in a report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a hold rating and issued a $129.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Piper Jaffray Companies increased their price target on PNC Financial Services Group, Inc. (The) from $134.00 to $147.00 and gave the company an overweight rating in a report on Monday, October 16th. Jefferies Group LLC reaffirmed a hold rating and set a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, August 11th. Finally, Robert W. Baird reaffirmed a buy rating and set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, October 1st. 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 issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $133.85.

Shares of PNC Financial Services Group, Inc. (PNC) traded up 0.23% during midday trading on Monday, reaching $138.17. 1,198,528 shares of the company traded hands. The stock has a 50 day moving average price of $133.38 and a 200 day moving average price of $126.33. The firm has a market capitalization of $65.77 billion, a PE ratio of 16.90 and a beta of 0.95. PNC Financial Services Group, Inc. has a 1-year low of $94.30 and a 1-year high of $139.23.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts expect that PNC Financial Services Group, Inc. will post $8.43 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is 36.63%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 4 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% during the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 8 shares during the last quarter. Hudock Capital Group LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 11 shares during the last quarter. Telemus Capital LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 16 shares during the last quarter. Finally, Green Square Capital LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% during the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 18 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

About PNC Financial Services Group, Inc. (The)

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.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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