The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $163.00 by Analysts at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price target trimmed by JPMorgan Chase & Co. from $163.50 to $163.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the company. Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a neutral rating in a report on Wednesday, April 17th. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and upped their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an underperform rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. UBS Group upped their price objective 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, The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $157.02.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $156.22 on Wednesday. The stock has a market cap of $62.15 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.76 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24. The stock’s 50 day moving average price is $153.58 and its 200 day moving average price is $144.41.

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 (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for 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 firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in The PNC Financial Services Group during the third quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Institutional investors own 83.53% of the company’s stock.

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.