The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $273.00 by Analysts at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its target price decreased by research analysts at Morgan Stanley from $278.00 to $273.00 in a report released on Friday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 26.30% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada reduced their price objective on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group dropped their target price on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd. TD Cowen cut their price target on shares of The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Friday. Finally, Citigroup reduced their price target on shares of The PNC Financial Services Group from $290.00 to $270.00 in a research report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $266.13.

The PNC Financial Services Group Stock Performance

PNC stock traded down $1.24 during midday trading on Friday, reaching $216.15. The stock had a trading volume of 1,566,480 shares, compared to its average volume of 2,216,299. The stock has a market cap of $86.23 billion, a PE ratio of 11.50, a P/E/G ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a fifty day simple moving average of $235.33 and a two-hundred day simple moving average of $233.29. The PNC Financial Services Group has a 52-week low of $177.08 and a 52-week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.35 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 19.22 EPS for the current year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. BlackRock Inc. purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $7,921,455,000. Bank of America Corp DE purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $2,102,631,000. Deutsche Bank AG purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $1,054,189,000. Jupiter Topco LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $756,877,000. Finally, Legal & General Group Plc acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $669,168,000. 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 is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.