Evercore ISI Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $175.00

The PNC Financial Services Group (NYSE:PNC) had its price target reduced by equities research analysts at Evercore ISI from $184.00 to $175.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 18.39% from the stock’s previous close.

A number of other analysts also recently issued reports on PNC. Jefferies Financial Group lifted their price target on The PNC Financial Services Group from $164.00 to $171.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Morgan Stanley boosted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group Stock Up 0.4 %

PNC stock opened at $147.82 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $58.80 billion, a PE ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $162.24. The stock has a 50-day simple moving average of $151.80 and a two-hundred day simple moving average of $141.72.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.98 EPS. On average, equities analysts predict that The PNC Financial Services Group will post 12.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockline Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $1,825,000. KPP Advisory Services LLC bought a new stake in The PNC Financial Services Group in the third quarter worth $323,000. AQR Capital Management LLC boosted its holdings in The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares in the last quarter. Trust Point Inc. bought a new stake in The PNC Financial Services Group in the fourth quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the fourth quarter worth $295,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

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.