Royal Bank of Canada Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price target decreased by stock analysts at Royal Bank of Canada from $205.00 to $195.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 28.25% from the stock’s previous close.

A number of other equities research analysts have also weighed in on PNC. Wells Fargo & Company lowered their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $200.88.

The PNC Financial Services Group Stock Up 0.3 %

PNC stock opened at $152.05 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a fifty day moving average price of $174.58 and a 200 day moving average price of $189.29.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Sell-side analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 11,819 shares of company stock valued at $2,127,508 in the last ninety days. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.