Keefe, Bruyette & Woods Issues Pessimistic Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Free Report) had its target price cut by Keefe, Bruyette & Woods from $195.00 to $185.00 in a report issued on Wednesday,Benzinga reports. They currently have an underperform rating on the financial services provider's stock.

PNC has been the topic of a number of other reports. Citigroup reduced their price target 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. JPMorgan Chase & Co. cut 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 report on Thursday, April 3rd. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial decreased their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $3.46 on Wednesday, hitting $148.87. 763,437 shares of the company's stock were exchanged, compared to its average volume of 1,983,471. The firm's 50-day moving average price is $173.63 and its two-hundred day moving average price is $189.24. The firm has a market cap of $58.92 billion, a price-to-earnings ratio of 10.83, a P/E/G 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 fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, research analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.30%. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 11,819 shares of company stock worth $2,127,508. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the period. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Norges Bank bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $1,352,151,000. Finally, Northern Trust Corp grew its holdings in shares of The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after buying an additional 608,375 shares during the last quarter. 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.