The PNC Financial Services Group (NYSE:PNC) Given New $185.00 Price Target at Keefe, Bruyette & Woods

The PNC Financial Services Group (NYSE:PNC) had its price objective decreased by Keefe, Bruyette & Woods from $195.00 to $185.00 in a research note released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Citigroup decreased 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. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays lowered their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Trading Down 2.6 %

Shares of PNC stock opened at $151.33 on Wednesday. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average price is $175.48 and its 200 day moving average price is $189.51. The firm has a market capitalization of $59.89 billion, a PE ratio of 11.01, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, sell-side 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. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.23%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, April 11th. The stock was sold at an average price of $150.63, for a total value of $96,553.83. Following the transaction, the chief executive officer now owns 562,932 shares in the company, valued at approximately $84,794,447.16. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 13,061 shares of company stock valued at $2,373,424. 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 modified their holdings of the company. Norges Bank purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $299,864,000. GAMMA Investing LLC raised its stake in shares of The PNC Financial Services Group by 19,279.5% in the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider’s stock valued at $201,961,000 after acquiring an additional 1,143,079 shares during the period. Schroder Investment Management Group lifted its holdings in shares of The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after acquiring an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

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.