JPMorgan Chase & Co. Trims The PNC Financial Services Group (NYSE:PNC) Target Price to $163.00

The PNC Financial Services Group (NYSE:PNC) had its price objective trimmed by JPMorgan Chase & Co. from $163.50 to $163.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently commented on PNC. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an underweight rating in a report on Tuesday, January 30th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating on the stock in a research report on Wednesday, April 17th. StockNews.com cut The PNC Financial Services Group from a hold rating to a sell rating in a report on Friday, April 26th. Finally, UBS Group upped their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $157.02.

The PNC Financial Services Group Stock Up 0.3 %

PNC opened at $156.22 on Wednesday. The PNC Financial Services Group has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. 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 stock has a market cap of $62.15 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. The firm’s fifty day moving average is $153.38 and its 200 day moving average is $144.15.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate 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 business’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.98 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently modified their holdings of PNC. Capital International Investors lifted its stake in The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after acquiring an additional 1,978,854 shares during the period. FMR LLC boosted its stake in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares in the last quarter. Norges Bank purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $1,039,481,000. Invesco Ltd. raised its stake in The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after buying an additional 484,475 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after buying an additional 3,046,226 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.