The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $189.00 at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC - Free Report) had its target price reduced by JPMorgan Chase & Co. from $212.50 to $189.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Other research analysts also recently issued research reports about the stock. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their target price for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Wells Fargo & Company cut their price target 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. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Finally, Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $203.47.

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The PNC Financial Services Group Stock Down 0.5 %

Shares of PNC traded down $0.82 during trading hours on Thursday, hitting $151.99. The stock had a trading volume of 2,217,604 shares, compared to its average volume of 1,920,481. The PNC Financial Services Group has a 1-year low of $143.52 and a 1-year high of $216.26. The firm has a market capitalization of $60.15 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50 day simple moving average of $183.93 and a 200-day simple moving average of $191.55. 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 (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. 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 $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter last year, the firm posted $3.16 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company 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 is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The PNC Financial Services Group's payout ratio is 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the sale, the chief executive officer now owns 525,071 shares of the company's stock, valued at $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. boosted its stake in The PNC Financial Services Group by 2,333.3% in the 4th 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 during the period. Albion Financial Group UT purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. 83.53% of the stock is currently 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.