The PNC Financial Services Group (NYSE:PNC) Reaches New 52-Week High at $190.62


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The PNC Financial Services Group, Inc. (NYSE:PNC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $190.62 and last traded at $190.33, with a volume of 31275 shares trading hands. The stock had previously closed at $188.12.

A number of equities research analysts have recently weighed in on PNC shares. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $192.00 to $197.00 and gave the stock an “overweight” rating in a research report on Friday, April 16th. Citigroup raised their target price on shares of The PNC Financial Services Group from $179.00 to $210.00 in a research note on Tuesday, April 20th. Smith Barney Citigroup upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $179.00 in a report on Monday, January 11th. Barclays raised their price objective on shares of The PNC Financial Services Group from $171.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 7th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $171.05.

The firm has a market capitalization of $81.41 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 3.33 and a beta of 1.38. The business’s fifty day moving average is $178.40 and its 200 day moving average is $153.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, April 15th. The PNC Financial Services Group’s payout ratio is 40.39%.

In other news, EVP Karen L. Larrimer sold 3,205 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $156.92, for a total value of $502,928.60. Following the sale, the executive vice president now directly owns 24,580 shares in the company, valued at $3,857,093.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,455 shares of company stock valued at $546,810 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PNC. Avestar Capital LLC boosted its position in The PNC Financial Services Group by 3.0% during the first quarter. Avestar Capital LLC now owns 1,807 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 53 shares during the last quarter. Alhambra Investment Partners LLC grew its stake in shares of The PNC Financial Services Group by 1.0% in the first quarter. Alhambra Investment Partners LLC now owns 5,791 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 58 shares in the last quarter. Grandfield & Dodd LLC increased its holdings in The PNC Financial Services Group by 4.2% during the first quarter. Grandfield & Dodd LLC now owns 1,442 shares of the financial services provider’s stock worth $250,000 after buying an additional 58 shares during the last quarter. Sterling Investment Advisors Ltd. raised its position in The PNC Financial Services Group by 19.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 408 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 65 shares in the last quarter. Finally, Canal Capital Management LLC raised its position in The PNC Financial Services Group by 0.7% during the first quarter. Canal Capital Management LLC now owns 9,754 shares of the financial services provider’s stock worth $1,711,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

The PNC Financial Services Group Company Profile (NYSE:PNC)

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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