The PNC Financial Services Group (NYSE:PNC) PT Lowered to $162.00 at Jefferies Financial Group

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

Other equities research analysts have also issued reports about the company. Morgan Stanley raised 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. UBS Group raised 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. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Finally, Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday. Two investment 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.com, the stock has an average rating of Hold and an average price target of $156.63.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $152.30 on Wednesday. The firm has a market capitalization of $60.59 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.67 and a beta of 1.18. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24. The business has a 50 day simple moving average of $151.89 and a 200-day simple moving average of $141.95. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $3.98 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group 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 transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steph & Co. grew its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the last quarter. 1832 Asset Management L.P. grew its stake in The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank grew its stake in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after buying an additional 69 shares during the last quarter. Triangle Securities Wealth Management grew its stake in The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after buying an additional 70 shares during the last quarter. Finally, Cooper Financial Group grew its stake in The PNC Financial Services Group by 1.7% during the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after buying an additional 70 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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.