The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Cut from Stephens

The PNC Financial Services Group (NYSE:PNC) had its price target cut by investment analysts at Stephens from $265.00 to $250.00 in a report released on Monday. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 15.66% from the company’s previous close.

PNC has been the subject of a number of other reports. Citigroup increased their price target on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and raised their target price for the company from $230.00 to $265.00 in a research note on Thursday, July 23rd. TD Cowen lowered their price objective on The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Friday. UBS Group lowered their price objective on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Tuesday, October 13th. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $266.13.

The PNC Financial Services Group Trading Down 0.6%

Shares of NYSE:PNC traded down $1.24 on Monday, hitting $216.15. The company had a trading volume of 1,566,480 shares, compared to its average volume of 2,216,299. The firm’s 50-day simple moving average is $235.33 and its two-hundred day simple moving average is $233.29. The PNC Financial Services Group has a 1 year low of $177.08 and a 1 year high of $258.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $86.23 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.14 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group will post 19.22 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently modified their holdings of PNC. Highland Investment Advisors LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $28,000. Archer Investment Corp purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Financial Life Planners bought a new stake in The PNC Financial Services Group during the 1st quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC increased its stake in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.