The PNC Financial Services Group (NYSE:PNC) Shares Gap Down - Should You Sell?

Key Points

• The PNC Financial Services Group shares gapped down from $189.73 to $183.84, closing at $180.93 with a trading volume of 937,590 shares.
• Analysts have mixed views on the stock, with a range of price targets; Citigroup raised its target from $217 to $230 and gave a "buy" rating, while Morgan Stanley downgraded their rating to "underweight."
• PNC declared a quarterly dividend of $1.70 per share, yielding 3.7%, which will be paid on November 5th to shareholders of record on October 14th.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $189.73, but opened at $183.84. The PNC Financial Services Group shares last traded at $180.93, with a volume of 937,590 shares.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Evercore ISI boosted their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $218.21.

The PNC Financial Services Group Stock Down 2.7%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $72.69 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The firm's 50-day moving average is $198.61 and its 200 day moving average is $183.77.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $5.92 billion during the quarter, compared to analysts' expectations of $5.82 billion. During the same period last year, the company posted $3.49 EPS. The company's revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Saudi Central Bank purchased a new stake in The PNC Financial Services Group during the 1st quarter worth $27,000. Concord Wealth Partners boosted its position in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider's stock worth $32,000 after purchasing an additional 100 shares during the period. Cornerstone Planning Group LLC boosted its position in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter worth about $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.

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