The PNC Financial Services Group (NYSE:PNC) Given New $162.00 Price Target at Jefferies Financial Group

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

PNC has been the subject of several other research reports. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley raised their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Finally, UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Price Performance

PNC stock opened at $147.25 on Wednesday. The stock has a 50-day moving average price of $151.80 and a two-hundred day moving average price of $141.68. The stock has a market cap of $58.58 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. 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 quarterly earnings data 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 company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 EPS. Equities analysts forecast that The PNC Financial Services Group will post 12.42 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PNC. OFI Invest Asset Management bought a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake 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 valued at $28,000 after acquiring an additional 140 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

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.