ValuEngine Downgrades PNC Financial Services Group (PNC) to Hold

ValuEngine downgraded shares of PNC Financial Services Group (NYSE:PNC) from a buy rating to a hold rating in a research note released on Wednesday morning.

Other equities research analysts have also recently issued reports about the company. Piper Jaffray Companies reiterated a buy rating and set a $134.00 price target on shares of PNC Financial Services Group in a research report on Wednesday, October 4th. Robert W. Baird reiterated a buy rating and set a $135.00 price target on shares of PNC Financial Services Group in a research report on Sunday, October 1st. Zacks Investment Research upgraded PNC Financial Services Group from a hold rating to a buy rating and set a $144.00 price target on the stock in a research report on Tuesday, September 19th. Royal Bank of Canada reiterated a buy rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Finally, Goldman Sachs Group cut PNC Financial Services Group from a conviction-buy rating to a buy rating in a research report on Thursday, January 4th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $142.33.

Shares of PNC Financial Services Group (NYSE PNC) traded up $0.35 on Wednesday, hitting $151.84. The stock had a trading volume of 3,275,203 shares, compared to its average volume of 1,804,709. PNC Financial Services Group has a 12-month low of $113.66 and a 12-month high of $153.50. The company has a market capitalization of $72,245.63, a PE ratio of 14.60, a PEG ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the business posted $1.97 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. equities analysts expect that PNC Financial Services Group will post 9.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.98%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 17.79%.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen L. Larrimer sold 3,135 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the sale, the insider now owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,523 shares of company stock valued at $15,392,168. 0.43% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in PNC Financial Services Group by 217.5% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock valued at $24,901,000 after purchasing an additional 126,480 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in PNC Financial Services Group by 20.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock valued at $906,000 after purchasing an additional 1,235 shares during the last quarter. California Public Employees Retirement System lifted its position in PNC Financial Services Group by 1.6% in the third quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock valued at $189,688,000 after purchasing an additional 22,434 shares during the last quarter. Davis Selected Advisers lifted its position in PNC Financial Services Group by 1.7% in the second quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock valued at $38,380,000 after purchasing an additional 5,262 shares during the last quarter. Finally, AXA lifted its position in PNC Financial Services Group by 2.1% in the third quarter. AXA now owns 337,039 shares of the financial services provider’s stock valued at $45,423,000 after purchasing an additional 6,903 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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