The PNC Financial Services Group (NYSE:PNC) Given New $175.00 Price Target at Evercore ISI

The PNC Financial Services Group (NYSE:PNC) had its target price reduced by Evercore ISI from $184.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective points to a potential upside of 19.37% from the stock’s current price.

A number of other equities research analysts also recently weighed in on PNC. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $156.46.

The PNC Financial Services Group Stock Up 0.0 %

PNC stock traded up $0.06 during midday trading on Wednesday, hitting $146.60. 1,086,606 shares of the company’s stock were exchanged, compared to its average volume of 2,143,937. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a 50 day moving average price of $151.82 and a 200-day moving average price of $141.64. The stock has a market capitalization of $58.32 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.05. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group will post 12.42 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently modified their holdings of PNC. Rockline Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $1,825,000. KPP Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $323,000. AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $295,000. 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.