Truist Financial Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $189.00

The PNC Financial Services Group (NYSE:PNC - Free Report) had its price objective decreased by Truist Financial from $208.00 to $189.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider's stock.

PNC has been the subject of several other reports. Morgan Stanley reduced their price target on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Stock Down 2.1 %

Shares of NYSE:PNC traded down $3.19 during midday trading on Wednesday, reaching $149.14. The company's stock had a trading volume of 641,067 shares, compared to its average volume of 1,982,931. The PNC Financial Services Group has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a market capitalization of $59.02 billion, a P/E ratio of 10.85, a PEG ratio of 1.55 and a beta of 1.04. The firm has a 50 day moving average of $173.63 and a 200-day moving average of $189.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

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 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 business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. On average, research analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared 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. This represents a $6.40 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, April 16th. 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 on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 11,819 shares of company stock worth $2,127,508. 0.41% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $30,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 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.