The PNC Financial Services Group (NYSE:PNC) Given New $162.00 Price Target at Jefferies Financial Group

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

A number of other research analysts have also recently commented on the company. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated an underperform rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday. Morgan Stanley upped their price target 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. HSBC upgraded The PNC Financial Services Group from a reduce rating to a hold rating and upped their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, UBS Group upped their price target 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $156.63.

The PNC Financial Services Group Trading Up 3.0 %

PNC opened at $152.30 on Wednesday. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24. The stock has a market capitalization of $60.59 billion, a PE ratio of 12.79, a P/E/G ratio of 1.67 and a beta of 1.18. The business’s 50 day moving average price is $151.89 and its 200 day moving average price is $141.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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 paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Activity

In other 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 value of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently bought and sold shares of the business. Rockline Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $1,825,000. KPP Advisory Services LLC purchased a new position in The PNC Financial Services Group in the third quarter valued at $323,000. AQR Capital Management LLC increased 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 valued at $14,032,000 after buying an additional 67,490 shares during the last quarter. Trust Point Inc. purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $295,000. Hedge funds and other institutional investors 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.