The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $162.00 by Analysts at Jefferies Financial Group

The PNC Financial Services Group (NYSE:PNC) had its price target dropped by equities researchers at Jefferies Financial Group from $171.00 to $162.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 10.02% from the stock’s previous close.

Several other analysts also recently weighed in on PNC. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday. The Goldman Sachs Group boosted their price objective 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. Morgan Stanley boosted their price objective 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. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Wells Fargo & Company boosted their price objective 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. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Up 0.5 %

Shares of The PNC Financial Services Group stock opened at $147.25 on Wednesday. The business’s fifty day moving average price is $151.80 and its two-hundred day moving average price is $141.68. 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 company has a market capitalization of $58.58 billion, a P/E ratio of 12.36, a PEG ratio of 1.69 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 EPS. As a group, research analysts forecast that The PNC Financial Services Group will post 12.42 EPS for the current year.

Insider Activity at The PNC Financial Services Group

In related 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 transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in PNC. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in shares of 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 buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.