The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $178.00 by Analysts at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price objective decreased by analysts at Morgan Stanley from $179.00 to $178.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 17.41% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lowered their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $200.88.

The PNC Financial Services Group Stock Down 1.4 %

PNC traded down $2.19 during midday trading on Wednesday, reaching $151.60. The company’s stock had a trading volume of 1,021,928 shares, compared to its average volume of 2,548,491. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $216.26. The stock’s 50-day moving average is $176.47 and its 200-day moving average is $189.78. The firm has a market capitalization of $60.00 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. As a group, research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 562,932 shares in the company, valued at $84,794,447.16. This represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have sold 13,061 shares of company stock worth $2,373,424. Company insiders own 0.41% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.