Royal Bank of Canada Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $195.00

The PNC Financial Services Group (NYSE:PNC - Free Report) had its target price decreased by Royal Bank of Canada from $205.00 to $195.00 in a report published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider's stock.

PNC has been the subject of several other research reports. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup decreased their target price on shares of 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. Barclays cut their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $200.88.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $2.14 on Wednesday, hitting $150.19. The company's stock had a trading volume of 2,567,350 shares, compared to its average volume of 1,990,438. 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 company has a 50-day simple moving average of $173.63 and a 200 day simple moving average of $189.24. The company has a market capitalization of $59.44 billion, a PE ratio of 10.92, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Sell-side analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company's stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 11,819 shares of company stock valued at $2,127,508. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in shares of 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 acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other 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.