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

The PNC Financial Services Group (NYSE:PNC) had its price objective lowered by Stephens from $265.00 to $250.00 in a research note issued to investors on Monday morning. The brokerage currently has an overweight rating on the financial services provider’s stock.

PNC has been the topic of a number of other reports. Citigroup lifted their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded The PNC Financial Services Group from a “buy” rating to a “hold” rating and upped their target price for the company from $230.00 to $265.00 in a report on Thursday, July 23rd. UBS Group decreased their price target 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, The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Seventeen investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $266.13.

The PNC Financial Services Group Trading Up 0.8%

The PNC Financial Services Group stock opened at $222.81 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $88.89 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The PNC Financial Services Group has a 1 year low of $177.08 and a 1 year high of $258.96. The firm’s 50 day moving average price is $233.32 and its two-hundred day moving average price is $233.51.

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

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 42.58%.

Insider Activity at The PNC Financial Services Group

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

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of PNC. BlackRock Inc. acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth about $7,921,455,000. Bank of America Corp DE purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $2,102,631,000. Deutsche Bank AG acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $1,054,189,000. Jupiter Topco LLC acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $756,877,000. Finally, Legal & General Group Plc acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $669,168,000. 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 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.