The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $273.00 by Analysts at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price target lowered by analysts at Morgan Stanley from $278.00 to $273.00 in a research note issued to investors on Friday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 26.30% from the company’s current price.

Several other analysts have also commented on PNC. Raymond James Financial dropped their price objective on The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. HSBC increased their target price on The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Finally, Stephens dropped their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.13.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $1.24 during mid-day trading on Friday, hitting $216.15. 1,566,480 shares of the stock were exchanged, compared to its average volume of 2,216,299. The PNC Financial Services Group has a 52-week low of $177.08 and a 52-week 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 company has a market cap of $86.23 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The firm has a fifty day moving average of $235.33 and a 200 day moving average of $233.29.

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

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated 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 in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at $7,921,455,000. Bank of America Corp DE acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth $2,102,631,000. Deutsche Bank AG purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth $1,054,189,000. Jupiter Topco LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth $756,877,000. Finally, Legal & General Group Plc acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $669,168,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.