Morgan Stanley Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC) had its price target cut by Morgan Stanley from $188.00 to $179.00 in a report issued on Monday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on PNC. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Truist Financial reduced their target price on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $203.47.

The PNC Financial Services Group Trading Down 0.4 %

Shares of PNC opened at $152.47 on Monday. The firm has a market cap of $60.34 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a 50 day simple moving average of $183.93 and a two-hundred day simple moving average of $191.55.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during 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 PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. On average, equities analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.20%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the transaction, the chief executive officer now owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. raised its stake 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 worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased 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.

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.