The PNC Financial Services Group (NYSE:PNC - Free Report) had its price target lowered by Keefe, Bruyette & Woods from $195.00 to $185.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an underperform rating on the financial services provider's stock.
Several other brokerages also recently issued reports on PNC. Stephens reissued an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Barclays lowered their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday. 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. Finally, Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus price target of $200.88.
Check Out Our Latest Report on The PNC Financial Services Group
The PNC Financial Services Group Stock Up 0.3 %
PNC traded up $0.51 during trading on Wednesday, hitting $152.05. The company had a trading volume of 3,564,375 shares, compared to its average volume of 1,989,650. The company has a market cap of $60.17 billion, a PE ratio of 11.06, 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 1-year low of $145.12 and a 1-year high of $216.26. The business has a 50-day moving average of $173.63 and a 200-day moving average of $189.09.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.
Insider Buying and Selling
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 11,819 shares of company stock worth $2,127,508 in the last quarter. Insiders own 0.41% of the company's stock.
Hedge Funds Weigh In On The PNC Financial Services Group
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after acquiring an additional 268,827 shares during the period. Franklin Resources Inc. raised its stake in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after purchasing an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $1,352,151,000. Finally, Northern Trust Corp raised its position in 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 valued at $905,530,000 after buying an additional 608,375 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
About The PNC Financial Services Group
(
Get Free Report)
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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