The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $163.00 by Analysts at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price objective cut by JPMorgan Chase & Co. from $163.50 to $163.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

PNC has been the subject of a number of other reports. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a reduce rating to a hold rating and upped their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Jefferies Financial Group cut their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating for the company in a research report on Wednesday, April 17th. StockNews.com downgraded The PNC Financial Services Group from a hold rating to a sell rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of Hold and a consensus price target of $157.02.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $153.94 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a 50 day simple moving average of $153.18 and a 200-day simple moving average of $144.07. The company has a market cap of $61.24 billion, a PE ratio of 12.93, a P/E/G ratio of 1.73 and a beta of 1.16. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group will post 12.65 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently modified their holdings of PNC. OFI Invest Asset Management acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $25,000. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

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.