Morgan Stanley Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $179.00

The PNC Financial Services Group (NYSE:PNC) had its target price lowered by analysts at Morgan Stanley from $188.00 to $179.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 18.27% from the stock’s previous close.

Several other brokerages also recently commented on PNC. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $203.47.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $1.75 during trading hours on Monday, hitting $151.35. The company had a trading volume of 1,839,935 shares, compared to its average volume of 1,905,836. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $59.90 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group has a 12 month low of $143.52 and a 12 month high of $216.26. The firm’s fifty day moving average is $184.93 and its 200 day moving average is $191.80.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the sale, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 12,420 shares of company stock valued at $2,320,739 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. 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.