The PNC Financial Services Group (NYSE:PNC) Given New $270.00 Price Target at Wells Fargo & Company

The PNC Financial Services Group (NYSE:PNC) had its target price upped by Wells Fargo & Company from $264.00 to $270.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.09.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $254.96 on Monday. The company has a market capitalization of $102.38 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company’s fifty day moving average price is $226.89 and its 200 day moving average price is $220.69. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $255.00.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company earned $3.51 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group will post 18.82 earnings per share for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock worth $10,694,574 in the last three months. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after acquiring an additional 408,464 shares during the period. State Street Corp lifted its stake in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after purchasing an additional 77,302 shares during the last quarter. Capital International Investors lifted its stake in shares of The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares during the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $1,967,080,000. Finally, Geode Capital Management LLC increased its position in shares of The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after purchasing an additional 30,078 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group News Summary

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: PNC raised its quarterly common-stock dividend to $2.00 per share from $1.70, an 18% increase that signals confidence in capital strength and future cash generation. PNC Raises Common Stock Dividend to 2.00 Per Share
• Positive Sentiment: JPMorgan and Wells Fargo both raised their price targets on PNC and kept overweight ratings, reinforcing a constructive outlook for the bank’s earnings and valuation. Benzinga analyst update
• Positive Sentiment: PNC launched a new mobile banking app with a more personalized and secure digital experience, which could help deepen client engagement and support deposit growth over time. PNC’s New Mobile App Delivers an Intuitive, Personalized Experience
• Neutral Sentiment: PNC completed the post-merger conversion of FirstBank branches and is closing 18 branches in Colorado and Arizona, a routine integration step that may improve efficiency but also reflects continued branch rationalization. PNC completes post-merger conversion of FirstBank branches
• Neutral Sentiment: One note flagged PNC’s valuation as premium and suggested a Hold ahead of Q2 earnings, which could temper enthusiasm but does not change the fundamentally positive dividend and analyst backdrop. PNC Financial: Premium Valuation Leads To Hold Recommendation Ahead Of Q2 Earnings

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.