The PNC Financial Services Group (NYSE:PNC) Shares Gap Down – What’s Next?

The PNC Financial Services Group, Inc. (NYSE:PNC) gapped down before the market opened on Thursday . The stock had previously closed at $200.44, but opened at $185.50. The PNC Financial Services Group shares last traded at $192.51, with a volume of 914,827 shares changing hands.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $203.29.

The PNC Financial Services Group Stock Down 2.7 %

The company has a 50 day moving average of $201.75 and a 200-day moving average of $186.58. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $77.40 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.28%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Activity

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,272 shares of company stock worth $6,164,890. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PNC. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after buying an additional 123,994 shares during the period. Geode Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares during the period. Finally, Legal & General Group Plc boosted its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after acquiring an additional 223,955 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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.