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

The PNC Financial Services Group (NYSE:PNC) had its target price lowered by equities research analysts at Oppenheimer from $284.00 to $263.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target points to a potential upside of 29.91% from the stock’s current price.

PNC has been the topic of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Barclays upped their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company increased 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. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research note on Thursday. They set a “buy” rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.16.

The PNC Financial Services Group Trading Down 1.5%

PNC opened at $202.46 on Friday. The company has a debt-to-equity ratio of 0.90, 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 $145.12 and a fifty-two week high of $243.94. The firm has a market capitalization of $81.66 billion, a PE ratio of 12.20, a P/E/G ratio of 0.90 and a beta of 0.98. The company’s 50-day moving average is $218.90 and its 200 day moving average is $205.14.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.77 EPS. As a group, research analysts predict that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm’s 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 sale, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PNC. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at about $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, EFG International AG bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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

About The PNC Financial Services Group

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.