Jefferies Financial Group Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $162.00

The PNC Financial Services Group (NYSE:PNC) had its price objective reduced by equities researchers 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 points to a potential upside of 9.59% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Evercore ISI dropped their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group upped their price objective 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. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Stock Up 0.4 %

PNC stock opened at $147.82 on Wednesday. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $162.24. The company’s 50 day simple moving average is $151.80 and its 200-day simple moving average is $141.72. 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 firm has a market capitalization of $58.80 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 12.42 EPS for the current year.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. OFI Invest Asset Management acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds 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.