Barclays Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $235.00

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective lowered by research analysts at Barclays from $257.00 to $235.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's price objective indicates a potential upside of 54.56% from the company's current price.

A number of other research firms also recently issued reports on PNC. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Stephens restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $200.88.

The PNC Financial Services Group Trading Up 0.3 %

Shares of PNC stock traded up $0.51 during trading hours on Wednesday, reaching $152.05. The company's stock had a trading volume of 3,564,375 shares, compared to its average volume of 1,989,650. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $216.26. The stock has a market capitalization of $60.17 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.04. The firm's fifty day simple moving average is $173.63 and its 200 day simple moving average is $189.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. Equities research analysts expect 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, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares of the company's stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 11,819 shares of company stock worth $2,127,508 in the last three months. Corporate insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $299,864,000. GAMMA Investing LLC boosted its holdings in shares of The PNC Financial Services Group by 19,279.5% in the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after purchasing an additional 1,143,079 shares during the period. Schroder Investment Management Group raised its holdings in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after buying an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after buying an additional 726,115 shares during the period. Hedge funds and other 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.