The PNC Financial Services Group (NYSE:PNC – Get Rating) had its target price reduced by Wolfe Research from $223.00 to $177.00 in a report released on Thursday, The Fly reports. Wolfe Research’s price target would indicate a potential upside of 5.59% from the company’s previous close.
Several other research analysts also recently commented on the stock. StockNews.com initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of The PNC Financial Services Group from $229.50 to $232.50 in a research report on Thursday, February 3rd. Raymond James reduced their price objective on shares of The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Morgan Stanley dropped their target price on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a report on Monday, March 28th. Finally, Argus dropped their target price on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $215.67.
NYSE PNC opened at $167.63 on Thursday. The company has a market capitalization of $69.33 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.75. The company has a 50-day simple moving average of $175.32 and a 200 day simple moving average of $193.38. The PNC Financial Services Group has a 52-week low of $152.35 and a 52-week high of $228.14.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings data on Thursday, April 14th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.51. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the business earned $4.10 earnings per share. The PNC Financial Services Group’s revenue was up 11.2% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group will post 14.04 EPS for the current fiscal year.
In other The PNC Financial Services Group news, Director Robert A. Niblock acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was acquired at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the transaction, the director now directly owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Guild Deborah sold 1,257 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP increased its holdings in shares of The PNC Financial Services Group by 3.0% in the 3rd quarter. Quantinno Capital Management LP now owns 1,686 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 49 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of The PNC Financial Services Group by 0.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,197 shares of the financial services provider’s stock valued at $2,386,000 after buying an additional 51 shares during the period. Gradient Investments LLC increased its stake in The PNC Financial Services Group by 12.0% in the 4th quarter. Gradient Investments LLC now owns 476 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 51 shares in the last quarter. Manchester Capital Management LLC increased its stake in The PNC Financial Services Group by 1.5% in the 4th quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 53 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider’s stock valued at $2,891,000 after purchasing an additional 53 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Company Profile (Get Rating)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
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Source: defenseworld.net
