The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $163.00 at Morgan Stanley

The PNC Financial Services Group (NYSE:PNCGet Rating) had its price objective lowered by stock analysts at Morgan Stanley from $178.00 to $163.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 5.25% from the stock’s current price.

A number of other research analysts also recently issued reports on PNC. UBS Group downgraded shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $190.00 to $176.00 in a research report on Tuesday, January 10th. Citigroup lifted their price objective on shares of The PNC Financial Services Group to $180.00 in a research report on Friday, December 2nd. Wolfe Research lifted their price objective on shares of The PNC Financial Services Group from $164.00 to $170.00 in a research report on Thursday, December 1st. JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $191.00 to $171.50 in a research report on Tuesday, October 11th. Finally, Evercore ISI cut their price objective on shares of The PNC Financial Services Group to $180.00 in a research report on Thursday, October 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $180.41.

The PNC Financial Services Group Trading Up 4.6 %

The PNC Financial Services Group stock opened at $154.87 on Thursday. The firm’s 50-day moving average is $159.04 and its 200-day moving average is $159.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.78 and a current ratio of 0.78. The PNC Financial Services Group has a 1 year low of $143.52 and a 1 year high of $214.50. The company has a market cap of $62.46 billion, a P/E ratio of 11.68, a PEG ratio of 2.28 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.48). The PNC Financial Services Group had a return on equity of 12.45% and a net margin of 26.96%. The business had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business posted $2.86 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group will post 14.39 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 2,833 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the transaction, the executive vice president now owns 20,527 shares of the company’s stock, valued at approximately $3,277,340.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. DAVENPORT & Co LLC increased its position in shares of The PNC Financial Services Group by 19.4% in the fourth quarter. DAVENPORT & Co LLC now owns 33,007 shares of the financial services provider’s stock worth $5,213,000 after acquiring an additional 5,363 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 132.4% during the fourth quarter. Bourgeon Capital Management LLC now owns 5,880 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 3,350 shares during the period. Arden Trust Co boosted its holdings in shares of The PNC Financial Services Group by 10.2% during the fourth quarter. Arden Trust Co now owns 5,360 shares of the financial services provider’s stock worth $846,000 after purchasing an additional 494 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 37,745 shares of the financial services provider’s stock worth $5,962,000 after purchasing an additional 1,171 shares during the period. Finally, Griffin Asset Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 16.2% during the fourth quarter. Griffin Asset Management Inc. now owns 5,050 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 704 shares during the period. 82.05% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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