The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Reduction from Evercore

The PNC Financial Services Group (NYSE:PNC) had its price objective cut by Evercore from $265.00 to $260.00 in a report published on Monday. They currently have an outperform rating on the financial services provider’s stock.

PNC has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Stephens cut their target price on The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd. Royal Bank Of Canada decreased their price objective on shares of The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Finally, UBS Group lowered their price objective on shares of The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.13.

The PNC Financial Services Group Trading Up 0.8%

Shares of NYSE PNC opened at $222.81 on Monday. The company’s 50 day simple moving average is $233.32 and its 200 day simple moving average is $233.51. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.83. The PNC Financial Services Group has a fifty-two week low of $177.08 and a fifty-two week high of $258.96. The firm has a market capitalization of $88.89 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.14 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating the consensus estimate 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 net margin of 21.83% and a return on equity of 12.82%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 EPS. On average, analysts predict that The PNC Financial Services Group will post 19.22 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s payout ratio is presently 42.58%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Highland Investment Advisors LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in The PNC Financial Services Group during the 2nd quarter worth about $28,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $31,000. Wilkerson Advisory Group LLC lifted its holdings in shares of The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Finally, NBT Bank N A NY lifted its holdings in shares of The PNC Financial Services Group by 96.3% in the first quarter. NBT Bank N A NY now owns 157 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. 83.53% of the stock is currently 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.