The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $175.00

The PNC Financial Services Group (NYSE:PNC) had its price objective trimmed by Evercore ISI from $184.00 to $175.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other research firms also recently commented on PNC. Jefferies Financial Group boosted their target price on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a hold rating in a report on Monday, April 8th. Keefe, Bruyette & Woods reissued an underperform rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday. HSBC raised shares of The PNC Financial Services Group from a reduce rating to a hold rating and boosted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. UBS Group boosted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Finally, Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an underweight rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $156.63.

The PNC Financial Services Group Stock Performance

PNC opened at $152.30 on Wednesday. The firm has a market cap of $60.59 billion, a P/E ratio of 12.79, a PEG ratio of 1.67 and a beta of 1.18. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a 50 day simple moving average of $151.89 and a two-hundred day simple moving average of $141.95. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 earnings per share. Equities analysts forecast that The PNC Financial Services Group will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 37,008,602 shares of the financial services provider’s stock worth $5,730,782,000 after purchasing an additional 158,093 shares during the last quarter. Capital International Investors grew its holdings in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares during the last quarter. FMR LLC grew its holdings in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after purchasing an additional 171,876 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Company Profile

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.