PNC Financial Services Group Given New $80.00 Price Target at Goldman Sachs Group Inc. (PNC)
Investment analysts at Goldman Sachs Group Inc. increased their target price on shares of PNC Financial Services Group (NYSE:PNC) from $79.00 to $80.00 in a note issued to investors on Monday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. Goldman Sachs Group Inc.’s price target points to a potential upside of 6.50% from the company’s current price.
In other PNC Financial Services Group news, EVP Joan L. Gulley sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $74.00, for a total transaction of $148,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of PNC Financial Services Group (NYSE:PNC) traded up 0.11% during mid-day trading on Monday, hitting $75.12. 1,854,175 shares of the company’s stock traded hands. PNC Financial Services Group has a one year low of $53.36 and a one year high of $77.93. The stock’s 50-day moving average is $73.14 and its 200-day moving average is $72.24. The company has a market cap of $39.964 billion and a P/E ratio of 11.10.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 16th. The company reported $1.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company posted $1.64 earnings per share. PNC Financial Services Group’s revenue was down 4.1% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 5th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, October 10th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of PNC Financial Services Group from $83.00 to $84.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of PNC Financial Services Group from $78.00 to $80.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “hold” rating on shares of PNC Financial Services Group in a research note to investors on Thursday. They now have a $78.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $78.74.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
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