The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $178.00 at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its target price cut by Morgan Stanley from $179.00 to $178.00 in a report published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Stephens reissued 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. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. dropped 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 research report on Thursday, April 3rd. Finally, Barclays decreased their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Stock Performance

PNC stock opened at $152.05 on Wednesday. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $216.26. The firm has a market cap of $60.17 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day simple moving average of $173.63 and a two-hundred day simple moving average of $189.09.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share 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 during the quarter, compared to the consensus estimate of $5.50 billion. On average, equities analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $150.63, for a total value of $96,553.83. Following the sale, the chief executive officer now directly owns 562,932 shares in the company, valued at approximately $84,794,447.16. The trade was a 0.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 11,819 shares of company stock valued at $2,127,508 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baltimore Washington Financial Advisors Inc. raised its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after buying an additional 55 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its position in The PNC Financial Services Group by 2.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 58 shares during the last quarter. 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.