Keefe, Bruyette & Woods Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $185.00

The PNC Financial Services Group (NYSE:PNC) had its price target trimmed by Keefe, Bruyette & Woods from $195.00 to $185.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an underperform rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Truist Financial cut their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC 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 business’s fifty day moving average price is $173.63 and its two-hundred day moving average price is $189.09. The PNC Financial Services Group has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market capitalization 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 (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.21%. The PNC Financial Services Group’s payout ratio is 45.20%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $150.63, for a total transaction of $96,553.83. Following the completion of the transaction, the chief executive officer now directly owns 562,932 shares of the company’s stock, valued at $84,794,447.16. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 11,819 shares of company stock valued at $2,127,508. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in 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.