The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $162.00 at Jefferies Financial Group

The PNC Financial Services Group (NYSE:PNC) had its price target trimmed by Jefferies Financial Group from $171.00 to $162.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

PNC has been the subject of several other reports. UBS Group increased their price objective 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. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Wells Fargo & Company increased their price objective 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. Morgan Stanley increased their price objective 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. Finally, Keefe, Bruyette & Woods restated an underperform rating and set a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $156.63.

The PNC Financial Services Group Stock Up 3.0 %

Shares of PNC stock opened at $152.30 on Wednesday. The stock has a 50 day moving average of $151.89 and a 200-day moving average of $142.10. 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 cap of $60.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 earnings per share. On average, equities analysts predict that The PNC Financial Services Group will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group in the third quarter valued at about $25,000. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. 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.