Royal Bank of Canada Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective dropped by analysts at Royal Bank of Canada from $205.00 to $195.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's target price would indicate a potential upside of 27.10% from the company's current price.

Several other brokerages also recently issued reports on PNC. Morgan Stanley lowered their price target on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a report on Monday, April 7th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and an average target price of $200.94.

The PNC Financial Services Group Price Performance

PNC traded down $0.37 on Wednesday, reaching $153.42. 524,432 shares of the company's stock were exchanged, compared to its average volume of 1,976,806. The stock has a market cap of $60.72 billion, a PE ratio of 11.16, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group has a twelve month low of $143.52 and a twelve month high of $216.26. The stock's fifty day moving average price is $176.47 and its 200-day moving average price is $189.78.

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 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Sell-side analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the sale, the chief executive officer now directly owns 523,829 shares of the company's stock, valued at approximately $102,759,534.93. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 13,061 shares of company stock valued at $2,373,424. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $299,864,000. GAMMA Investing LLC lifted its stake 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 acquiring an additional 1,143,079 shares during the period. Schroder Investment Management Group raised its position in The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after acquiring an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares during the last quarter. Institutional investors and hedge funds 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.

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