PNC Financial Services Group (NYSE: PNC – Get a Review) had its price target reduced by Citigroup from $190.00 to $170.00 in a research report sent to investors on Tuesday, reports The Fly.
A number of other stock analysts have also recently released reports on PNC. Wells Fargo & Company cut its price target on PNC Financial Services Group from $227.00 to $202.00 and set an overweight rating for the company in a Friday, July 1 report. Argus lowered its target price on the PNC Financial Services Group from $245.00 to $220.00 in a Monday, April 18 report. Morgan Stanley lowered its price target on PNC Financial Services Group from $196.00 to $168.00 and set an underweight rating for the company in a report on Tuesday. Raymond James upgraded the PNC Financial Services Group from an Outperform rating to a Market Performance rating in a Thursday, July 7 report. Finally, Jefferies Financial Group lowered its target price on PNC Financial Services Group from $188.00 to $156.00 in a report on Monday. One research analyst rated the stock with a sell rating, ten gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $204.87.
PNC opened at $157.09 on Tuesday. The stock has a 50-day moving average price of $162.48 and a 200-day moving average price of $184.17. Financial services group PNC has a 12-month low of $149.51 and a 12-month high of $228.14. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt ratio of 0.54. The stock has a market capitalization of $64.97 billion, a P/E ratio of 13.29, a PEG ratio of 2.22 and a beta of 1.24.
PNC Financial Services Group (NYSE:PNC – Get Rating) last released quarterly earnings data on Thursday, April 14. The financial services provider reported earnings per share (EPS) of $3.29 for the quarter, beating analyst consensus estimates of $2.78 by $0.51. The PNC Financial Services group achieved a return on equity of 12.43% and a net margin of 26.14%. The company posted revenue of $4.69 billion in the quarter, versus $4.72 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $4.10. The company’s revenue for the quarter increased by 11.2% compared to the same quarter last year. On average, equity research analysts expect PNC Financial Services Group to post EPS of 14.27 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 5. Shareholders of record on Wednesday, July 13 will receive a dividend of $1.50. This represents an annualized dividend of $6.00 and a dividend yield of 3.82%. The ex-dividend date is Tuesday, July 12. The dividend distribution rate of the PNC Financial Services group is currently 50.76%.
In other news, EVP Guild Deborah sold 1,257 shares in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the completion of the transaction, the executive vice president now owns 23,360 shares of the company, valued at approximately $3,984,281.60. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Robert A. Niblock acquired 2,000 shares of PNC Financial Services Group in a transaction that took place on Friday, May 6. The shares were purchased at an average cost of $167.07 per share, with a total value of $334,140.00. Following the transaction, the administrator now owns 6,063 shares of the company, valued at $1,012,945.41. Disclosure of this purchase can be found here. 0.34% of the shares are currently held by company insiders.
Hedge funds have recently been buying and selling stocks. Citizens National Bank Trust Department bought a new position in The PNC Financial Services Group during Q4 worth approximately $28,000. Retirement Planning Co of New England Inc. bought a new position in The PNC Financial Services Group during Q4, valued at around $30,000. Guardian Wealth Management Inc. bought a new position in The PNC Financial Services Group during Q4, valued at approximately $32,000. Mascoma Wealth Management LLC increased its position in The PNC Financial Services Group by 89.8% during the 1st quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider valued at $31,000 after buying 79 additional shares last quarter. Finally, Covestor Ltd bought a new position in The PNC Financial Services Group during Q4, valued at around $40,000. 83.54% of the shares are held by institutional investors.
About PNC Financial Services Group (Get an evaluation)
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, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.
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