The PNC Financial Services Group (NYSE:PNC) Shares Down 0%

The PNC Financial Services Group, Inc. (NYSE:PNC) was down 0% during mid-day trading on Friday . The stock traded as low as $155.36 and last traded at $156.25. Approximately 127,973 shares traded hands during trading, a decline of 94% from the average daily volume of 2,101,915 shares. The stock had previously closed at $156.30.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley upped their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group Stock Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average price is $152.61 and its two-hundred day moving average price is $142.97. The stock has a market capitalization of $62.10 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.79 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Buying and Selling

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

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in PNC. Rockline Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $1,825,000. KPP Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $323,000. AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares in the last quarter. Trust Point Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $295,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.