The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $162.00 at Jefferies Financial Group

The PNC Financial Services Group (NYSE:PNC) had its price target lowered by Jefferies Financial Group from $171.00 to $162.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a report on Tuesday, January 30th. Evercore ISI decreased their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research report on Thursday, March 28th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Finally, HSBC raised shares of The PNC Financial Services Group from a reduce rating to a hold rating and increased their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of Hold and an average target price of $156.63.

The PNC Financial Services Group Stock Up 0.5 %

Shares of The PNC Financial Services Group stock opened at $147.25 on Wednesday. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market cap of $58.58 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. 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 firm’s 50-day moving average is $151.80 and its two-hundred day moving average is $141.68.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $3.98 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group will post 12.42 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. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.21%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $28,000. Finally, Fortis Group Advisors LLC boosted its stake in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

About The PNC Financial Services Group

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.