The PNC Financial Services Group (NYSE:PNC) Price Target Cut to $200.00

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The PNC Financial Services Group (NYSE:PNC – Get Rating) had its price target cut by Deutsche Bank Aktiengesellschaft from $215.00 to $200.00 in a research note issued to investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 21.70% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Barclays decreased their target price on The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Piper Sandler set a $160.00 target price on The PNC Financial Services Group in a research report on Tuesday, July 19th. Morgan Stanley raised their target price on The PNC Financial Services Group from $168.00 to $180.00 in a research report on Monday, July 18th. Citigroup decreased their target price on The PNC Financial Services Group from $190.00 to $170.00 in a research report on Tuesday, July 12th. Finally, Raymond James downgraded The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $197.78.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $164.34 on Monday. The business’s fifty day simple moving average is $163.28 and its 200 day simple moving average is $170.22. The firm has a market capitalization of $67.40 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. The PNC Financial Services Group has a 12 month low of $146.39 and a 12 month high of $228.14. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The PNC Financial Services Group’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $4.50 earnings per share. As a group, analysts anticipate that The PNC Financial Services Group will post 14.49 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $166.96, for a total transaction of $584,360.00. Following the completion of the transaction, the executive vice president now directly owns 174,651 shares in the company, valued at $29,159,730.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. lifted its stake in The PNC Financial Services Group by 22.5% during the second quarter. B. Riley Wealth Management Inc. now owns 3,075 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 565 shares during the last quarter. Amundi lifted its stake in The PNC Financial Services Group by 19.3% during the second quarter. Amundi now owns 1,956,480 shares of the financial services provider’s stock worth $295,351,000 after purchasing an additional 316,498 shares during the last quarter. Intersect Capital LLC lifted its stake in The PNC Financial Services Group by 6.8% during the second quarter. Intersect Capital LLC now owns 1,485 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 94 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in The PNC Financial Services Group by 285.5% during the second quarter. Raleigh Capital Management Inc. now owns 7,921 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 5,866 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its stake in shares of The PNC Financial Services Group by 124.2% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 61,393 shares of the financial services provider’s stock valued at $9,686,000 after acquiring an additional 34,013 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.