The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $263.00 at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price target cut by Morgan Stanley from $283.00 to $263.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 26.82% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Barclays boosted their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.28.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $5.72 during trading hours on Tuesday, reaching $207.38. The company’s stock had a trading volume of 745,358 shares, compared to its average volume of 2,788,125. The firm has a 50 day moving average price of $218.47 and a 200-day moving average price of $205.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $83.65 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.90 and a beta of 0.98. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the business posted $3.77 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 over the last three months. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its position in shares of The PNC Financial Services Group by 48.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 217,518 shares of the financial services provider’s stock worth $45,403,000 after purchasing an additional 71,433 shares in the last quarter. World Investment Advisors raised its stake in The PNC Financial Services Group by 123.5% in the fourth quarter. World Investment Advisors now owns 10,984 shares of the financial services provider’s stock valued at $2,293,000 after buying an additional 6,069 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth about $46,000. Larry Mathis Financial Planning LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $396,000. Finally, Advisortrust Partners LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $5,018,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.