Oppenheimer Has Lowered Expectations for The PNC Financial Services Group (NYSE:PNC) Stock Price
by Sarita Garza · The Markets DailyThe PNC Financial Services Group (NYSE:PNC – Get Free Report) had its price objective reduced by equities research analysts at Oppenheimer from $284.00 to $263.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target points to a potential upside of 28.11% from the stock’s current price.
Several other analysts have also issued reports on PNC. TD Cowen upped their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday. They issued a “buy” rating and a $250.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.16.
Check Out Our Latest Research Report on The PNC Financial Services Group
The PNC Financial Services Group Stock Performance
PNC opened at $205.29 on Friday. The business’s 50-day simple moving average is $219.31 and its 200 day simple moving average is $205.12. The PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $82.81 billion, a PE ratio of 12.37, a PEG ratio of 0.92 and a beta of 0.98.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.77 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.
Insider Activity at The PNC Financial Services Group
In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On The PNC Financial Services Group
A number of large investors have recently made changes to their positions in PNC. Cvfg LLC increased its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after buying an additional 43 shares during the period. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 46 shares during the period. Westfuller Advisors LLC boosted its position in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 46 shares in the last quarter. Atom Investors LP boosted its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 46 shares in the last quarter. Finally, Flavin Financial Services Inc. increased its stake in The PNC Financial Services Group by 0.4% in the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.
PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.