Sterne Agee Initiates Coverage on PNC Financial Services Group (PNC)
Equities researchers at Sterne Agee initiated coverage on shares of PNC Financial Services Group (NYSE:PNC) in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
In other PNC Financial Services Group news, EVP E William Parsley III sold 75,000 shares of PNC Financial Services Group stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $84.66, for a total transaction of $6,349,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on PNC. Analysts at Zacks reiterated a “neutral” rating on shares of PNC Financial Services Group in a research note on Monday, May 19th. They now have a $87.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of PNC Financial Services Group in a research note on Wednesday, May 14th. They set a “buy” rating and a $105.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, April 24th. They now have a $94.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Buy” and a consensus price target of $89.79.
PNC Financial Services Group (NYSE:PNC) opened at 84.76 on Friday. PNC Financial Services Group has a 52-week low of $69.15 and a 52-week high of $88.03. The stock’s 50-day moving average is $83.6 and its 200-day moving average is $80.94. The company has a market cap of $45.273 billion and a P/E ratio of 11.30.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.16. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that PNC Financial Services Group will post $7.19 earnings per share for the current fiscal year.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.