The PNC Financial Services Group (NYSE:PNC) Stock Gets Price Target Trim from Citigroup

The PNC Financial Services Group (NYSE:PNC) had its price objective cut by Citigroup from $290.00 to $270.00 in a report released on Monday, MarketBeat Ratings reports. They currently have a buy rating on the financial services provider’s stock.

PNC has been the subject of a number of other reports. UBS Group cut their price target on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating for the company in a report on Monday, October 5th. Argus increased their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada lowered their price objective on shares of The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Keefe, Bruyette & Woods dropped their target price on shares of The PNC Financial Services Group from $260.00 to $250.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Finally, The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.13.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $222.81 on Monday. The stock has a 50-day simple moving average of $233.32 and a 200 day simple moving average of $233.51. The PNC Financial Services Group has a twelve month low of $177.08 and a twelve month high of $258.96. The stock has a market capitalization of $88.89 billion, a PE ratio of 11.55, a P/E/G ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.35 EPS. Research analysts anticipate that The PNC Financial Services Group will post 19.22 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Wednesday, October 14th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

Insiders Place Their Bets

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in The PNC Financial Services Group in the second quarter worth about $2,102,631,000. Nykredit A S bought a new position in The PNC Financial Services Group during the second quarter worth about $33,532,000. AMG National Trust Bank bought a new position in The PNC Financial Services Group during the second quarter worth about $30,557,000. Amundi boosted its holdings in The PNC Financial Services Group by 5.2% during the second quarter. Amundi now owns 1,824,741 shares of the financial services provider’s stock valued at $449,288,000 after purchasing an additional 90,734 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in The PNC Financial Services Group during the second quarter valued at approximately $69,078,000. 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 is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.