The Goldman Sachs Group Has Lowered Expectations for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective decreased by research analysts at The Goldman Sachs Group from $180.00 to $172.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price objective indicates a potential upside of 12.11% from the stock's previous close.

A number of other equities analysts also recently weighed in on PNC. Truist Financial cut their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday. Citigroup cut their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus price target of $200.94.

The PNC Financial Services Group Trading Down 0.2 %

NYSE PNC traded down $0.37 during trading hours on Wednesday, hitting $153.42. 524,432 shares of the company's stock were exchanged, compared to its average volume of 1,976,806. The firm has a market cap of $60.72 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.55 and a beta of 1.04. The stock has a 50-day simple moving average of $176.47 and a 200 day simple moving average of $189.78. 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 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, equities analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $150.63, for a total value of $96,553.83. Following the transaction, the chief executive officer now directly owns 562,932 shares of the company's stock, valued at approximately $84,794,447.16. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 13,061 shares of company stock worth $2,373,424 in the last ninety days. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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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