The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $189.00 by Analysts at JPMorgan Chase & Co.

The PNC Financial Services Group (NYSE:PNC) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $212.50 to $189.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.64% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $205.65.

The PNC Financial Services Group Stock Up 1.5 %

The PNC Financial Services Group stock opened at $177.24 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The firm has a fifty day moving average price of $186.59 and a two-hundred day moving average price of $192.07. The firm has a market cap of $70.14 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 EPS. As a group, analysts forecast that The PNC Financial Services Group will post 15.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,559,389. 0.41% of the stock is currently owned by insiders.

Institutional Trading of The PNC Financial Services Group

Large investors have recently made changes to their positions in the business. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. lifted its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Institutional investors own 83.53% of the company’s stock.

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.