Morgan Stanley Lowers PNC Financial Services Group (NYSE:PNC) Price Target to $136.00

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PNC Financial Services Group (NYSE:PNC) had its price target lowered by investment analysts at Morgan Stanley from $142.00 to $136.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 3.40% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Zacks Investment Research raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. UBS Group set a $133.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Barclays increased their price objective on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $142.99.

Shares of NYSE PNC opened at $140.79 on Monday. The firm has a 50 day simple moving average of $134.24. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $147.23. The firm has a market capitalization of $63.91 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.88 and a quick ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business posted $2.43 earnings per share. Equities research analysts anticipate that PNC Financial Services Group will post 11.33 earnings per share for the current fiscal year.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the sale, the insider now owns 24,747 shares in the company, valued at $3,340,845. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PNC. Deprince Race & Zollo Inc. lifted its stake in shares of PNC Financial Services Group by 3.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 132,645 shares of the financial services provider’s stock worth $15,508,000 after buying an additional 4,893 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PNC Financial Services Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock worth $348,594,000 after buying an additional 41,309 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in shares of PNC Financial Services Group during the 4th quarter worth about $66,000. Oakworth Capital Inc. lifted its stake in shares of PNC Financial Services Group by 15.5% during the 4th quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock worth $75,000 after buying an additional 86 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its stake in shares of PNC Financial Services Group by 35.3% during the 4th quarter. Hudson Bay Capital Management LP now owns 41,465 shares of the financial services provider’s stock worth $4,848,000 after buying an additional 10,809 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Further Reading: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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