The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $278.00 by Analysts at UBS Group

Key Points

• UBS Group lowered its price target for PNC Financial Services from $286 to $278 while maintaining a “Buy” rating, implying nearly 20% upside from the prior close.
• Analyst sentiment remains positive overall, with 17 Buy ratings and 8 Hold ratings; the consensus rating is “Moderate Buy” with a $266.04 target price.
• PNC recently beat quarterly earnings expectations, reporting $5.09 in EPS versus the $4.91 consensus, while revenue rose 10.9% year over year to $6.60 billion.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective dropped by research analysts at UBS Group from $286.00 to $278.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. UBS Group's price objective would suggest a potential upside of 19.96% from the company's previous close.

A number of other equities research analysts have also issued reports on PNC. HSBC upped their target price on shares of The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Oppenheimer boosted their target price on The PNC Financial Services Group from $269.00 to $274.00 and gave the company an "outperform" rating in a report on Monday. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $281.00 to $250.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an "equal weight" rating for the company in a research note on Friday, October 16th. Finally, Robert W. Baird increased their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $266.04.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $3.88 on Monday, reaching $231.74. The company's stock had a trading volume of 1,603,412 shares, compared to its average volume of 2,196,739. The stock's fifty day simple moving average is $230.03 and its 200-day simple moving average is $228.88. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group has a 1 year low of $177.08 and a 1 year high of $258.96. The company has a market capitalization of $92.45 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the prior year, the company posted $4.35 EPS. The PNC Financial Services Group's quarterly revenue was up 10.9% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group will post 19.22 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $7,921,455,000. State Street Corp increased its holdings in The PNC Financial Services Group by 4.3% during the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider's stock worth $4,538,929,000 after buying an additional 765,097 shares during the last quarter. Bank of America Corp DE purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth about $2,102,631,000. Deutsche Bank AG purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The PNC Financial Services Group by 1.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider's stock valued at $888,309,000 after acquiring an additional 39,112 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.

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