PNC Financial Services Group Rating Increased to Buy at Sandler O’Neill (PNC)
PNC Financial Services Group (NYSE:PNC) was upgraded by stock analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
In other PNC Financial Services Group news, EVP Orlando Esposito sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $78.95, for a total transaction of $157,900.00. Following the sale, the executive vice president now directly owns 11,773 shares in the company, valued at approximately $929,478. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of PNC Financial Services Group from $75.00 to $82.00 in a research note to investors on Friday, January 10th. They now have a “neutral” rating on the stock. Separately, analysts at Evercore Partners downgraded shares of PNC Financial Services Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, December 16th. They now have a $81.00 price target on the stock, up previously from $79.00. Finally, analysts at Guggenheim raised their price target on shares of PNC Financial Services Group from $90.00 to $95.00 in a research note to investors on Tuesday, December 3rd. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $79.38.
PNC Financial Services Group (NYSE:PNC) traded up 2.65% on Thursday, hitting $80.93. 4,534,683 shares of the company’s stock traded hands. PNC Financial Services Group has a 1-year low of $60.37 and a 1-year high of $79.29. The stock has a 50-day moving average of $76.8 and a 200-day moving average of $75.03. The company has a market cap of $43.063 billion and a price-to-earnings ratio of 11.61.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.20. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the company posted $1.24 earnings per share. PNC Financial Services Group’s revenue was up .1% compared to the same quarter last year. Analysts expect that PNC Financial Services Group will post $7.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of 0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, January 13th.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
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