The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $163.00 by Analysts at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price objective cut by JPMorgan Chase & Co. from $163.50 to $163.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on PNC. Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a research note on Wednesday, April 17th. Morgan Stanley increased 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 note on Tuesday, January 30th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Bank of America increased their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a neutral rating in a research note on Wednesday, April 17th. Finally, UBS Group increased their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $157.02.

The PNC Financial Services Group Stock Up 0.4 %

PNC opened at $153.94 on Wednesday. The business has a 50 day moving average price of $153.18 and a two-hundred day moving average price of $144.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $61.24 billion, a PE ratio of 12.93, a P/E/G ratio of 1.73 and a beta of 1.16. The PNC Financial Services Group has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 EPS. As a group, research analysts anticipate that The PNC Financial Services Group will post 12.65 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the stock. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $1,825,000. KPP Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $323,000. AQR Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.