Oppenheimer Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $263.00

The PNC Financial Services Group (NYSE:PNC) had its price objective reduced by Oppenheimer from $284.00 to $263.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the company. Barclays upped their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley raised their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.16.

The PNC Financial Services Group Price Performance

PNC stock opened at $202.46 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a 1 year low of $145.12 and a 1 year high of $243.94. The firm has a market cap of $81.66 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.98. The stock has a 50-day simple moving average of $218.90 and a 200-day simple moving average of $205.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the business earned $3.77 EPS. The PNC Financial Services Group’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at $4,940,179.20. This trade represents a 10.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,186 shares of company stock valued at $14,840,973 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 6,572 shares during the last quarter. US Bancorp DE lifted its position in shares of The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after buying an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after acquiring an additional 22,325 shares in the last quarter. Savant Capital LLC boosted its stake in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after acquiring an additional 7,064 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of The PNC Financial Services Group by 2.5% during the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after acquiring an additional 26,305 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

More The PNC Financial Services Group News

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Jefferies initiated/expanded coverage and raised its stance—setting a $250 price target and issuing a buy/strong-buy—boosting demand from investors who follow sell-side coverage. Zacks Jefferies Coverage MSN Jefferies Initiates
• Positive Sentiment: Schaeffer’s Weekend Trader flagged PNC as “poised for a relief rally” and circulated a specific options trade idea to subscribers—this type of options flow and positive trading idea can attract short-term traders and provide buying support. Schaeffer’s Article
• Positive Sentiment: Analyst consensus remains constructive—coverage summary shows a “moderate buy” consensus and analysts expect double-digit EPS growth into the next quarter, which supports medium-term fundamentals ahead of earnings. Analyst Consensus Earnings Preview
• Neutral Sentiment: Independent reviews and write-ups are circulating (analyst review sites and banking news) that summarize fundamentals and recent results—useful for retail investors but unlikely to move the stock materially on their own. Review Article
• Negative Sentiment: Oppenheimer trimmed its price target from $284 to $263 while keeping an “outperform” rating; the cut reduces upside expectations versus prior targets and can temper upside momentum even though the rating stayed positive. Benzinga Oppenheimer Note

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.