The PNC Financial Services Group (NYSE:PNC) Price Target Lowered to $200.00 at Citigroup

The PNC Financial Services Group (NYSE:PNC) had its price target cut by Citigroup from $235.00 to $200.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $201.65.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $176.56 on Monday. The company has a market cap of $69.88 billion, a P/E ratio of 12.84, a PEG ratio of 1.55 and a beta of 1.13. The firm has a fifty day moving average price of $189.70 and a 200 day moving average price of $192.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 earnings per share. Sell-side analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the completion of the sale, the chief executive officer now directly owns 566,057 shares of the company’s stock, valued at approximately $97,361,804. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 13,662 shares of company stock valued at $2,582,789. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% in 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 acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.