The PNC Financial Services Group (NYSE:PNC) Given New $178.00 Price Target at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its target price cut by Morgan Stanley from $179.00 to $178.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's price objective points to a potential upside of 17.41% from the company's previous close.

Other research analysts have also issued reports about the stock. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Stephens restated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $200.88.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $2.19 during trading on Wednesday, hitting $151.60. The stock had a trading volume of 1,021,928 shares, compared to its average volume of 2,548,491. The stock's 50 day moving average is $176.47 and its two-hundred day moving average is $189.78. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market cap of $60.00 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. As a group, analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 13,061 shares of company stock valued at $2,373,424 in the last quarter. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares in the last quarter. Franklin Resources Inc. lifted its holdings in The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA boosted its position 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 acquiring an additional 726,115 shares in the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,352,151,000. Finally, Northern Trust Corp raised its position in shares of The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after acquiring an additional 608,375 shares in the last quarter. Institutional investors 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.

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