PNC Financial Services Group (NYSE:PNC) received a $149.00 price target from equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s target price indicates a potential upside of 2.82% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Robert W. Baird reiterated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a research note on Monday, August 28th. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Tuesday, September 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group in a research note on Sunday, August 27th. Nomura increased their target price on PNC Financial Services Group from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group reiterated a “hold” rating and set a $135.00 target price on shares of PNC Financial Services Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $136.83.
PNC Financial Services Group (NYSE:PNC) traded down $0.18 on Wednesday, hitting $144.92. The stock had a trading volume of 1,599,946 shares, compared to its average volume of 2,190,774. PNC Financial Services Group has a 52 week low of $113.66 and a 52 week high of $147.28. The firm has a market capitalization of $69,490.00, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92.
In other PNC Financial Services Group news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $136.98, for a total transaction of $429,432.30. Following the transaction, the insider now owns 20,449 shares in the company, valued at approximately $2,801,104.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $145.51, for a total value of $2,848,503.76. Following the transaction, the insider now owns 103,299 shares in the company, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,523 shares of company stock worth $15,392,168. Corporate insiders own 0.43% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Honeywell International Inc. increased its stake in shares of PNC Financial Services Group by 0.3% in the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after purchasing an additional 400 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of PNC Financial Services Group by 217.5% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock valued at $24,901,000 after purchasing an additional 126,480 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of PNC Financial Services Group by 20.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock valued at $906,000 after purchasing an additional 1,235 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of PNC Financial Services Group by 3.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 500 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of PNC Financial Services Group by 12.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after purchasing an additional 70,962 shares during the last quarter. Institutional investors own 81.48% of the company’s stock.
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About PNC Financial Services Group
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.
