The Goldman Sachs Group Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $180.00

The PNC Financial Services Group (NYSE:PNC) had its price objective decreased by The Goldman Sachs Group from $189.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Bank of America upgraded shares of The PNC Financial Services Group from a neutral rating to a buy rating and raised their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an underweight rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an outperform rating in a research report on Wednesday, July 17th. UBS Group lifted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Finally, StockNews.com raised The PNC Financial Services Group from a sell rating to a hold rating in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $176.90.

The PNC Financial Services Group Stock Down 0.2 %

PNC stock opened at $177.24 on Wednesday. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The company has a 50-day moving average of $175.16 and a two-hundred day moving average of $161.66. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $185.84. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.36 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 2,404 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. Insiders sold 25,263 shares of company stock valued at $4,418,109 in the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently modified their holdings of the stock. Gilbert & Cook Inc. increased its position in The PNC Financial Services Group by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 107 shares during the period. Gryphon Financial Partners LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $228,000. Principal Securities Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $518,000. Quotient Wealth Partners LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $206,000. Finally, Westpac Banking Corp increased its holdings in The PNC Financial Services Group by 11.8% in the fourth quarter. Westpac Banking Corp now owns 2,857 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 301 shares during the last quarter. 83.53% of the stock is owned by 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.