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

The PNC Financial Services Group (NYSE:PNC) had its price target decreased by Evercore ISI from $184.00 to $175.00 in a report published on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. HSBC upgraded shares of The PNC Financial Services Group from a reduce rating to a hold rating and lifted their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated an underperform rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday. Jefferies Financial Group lifted their price objective on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the company a hold rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a neutral rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $156.63.

The PNC Financial Services Group Trading Up 3.0 %

Shares of PNC stock opened at $152.30 on Wednesday. The company has a 50 day moving average of $151.89 and a 200-day moving average of $141.95. 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 PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a market cap of $60.59 billion, a P/E ratio of 12.79, a PEG ratio of 1.67 and a beta of 1.18.

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, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $3.98 EPS. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders 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 dividend yield of 4.07%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by insiders.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of 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 acquiring an additional 140 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Fortis Group Advisors LLC grew its stake in shares of The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Company Profile

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.