The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $175.00 by Analysts at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its price objective lowered by Evercore ISI from $184.00 to $175.00 in a report released on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also weighed in on PNC. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and raised their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a report on Thursday, January 18th. Finally, Jefferies Financial Group upped their price target on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the company a hold rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of Hold and a consensus target price of $156.46.

The PNC Financial Services Group Stock Performance

PNC opened at $147.25 on Wednesday. The business has a 50 day moving average price of $151.80 and a two-hundred day moving average price of $141.68. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $58.58 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. 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 PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insiders Place Their Bets

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of PNC. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $323,000. AQR Capital Management LLC grew its stake in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after buying an additional 67,490 shares during the last quarter. Trust Point Inc. bought a new position in The PNC Financial Services Group in the 4th quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.