PNC Financial Services Group’s (PNC) “Hold” Rating Reaffirmed at Barclays PLC
PNC Financial Services Group Inc. (NYSE:PNC)‘s stock had its “hold” rating restated by equities research analysts at Barclays PLC in a research note issued on Tuesday. They currently have a $97.00 price target on the stock. Barclays PLC’s price objective suggests a potential upside of 5.79% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Credit Agricole SA raised their target price on shares of PNC Financial Services Group from $86.00 to $92.00 and gave the stock an “underperform” rating in a research note on Friday, September 23rd. Bank of America Corp. set a $100.00 target price on shares of PNC Financial Services Group and gave the stock a “buy” rating in a research note on Wednesday, September 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $96.00 price target on shares of PNC Financial Services Group in a research report on Wednesday, August 31st. Nomura raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $95.00 to $84.00 in a research report on Thursday, July 7th. Finally, Raymond James Financial Inc. raised shares of PNC Financial Services Group from an “underperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $96.65.
PNC Financial Services Group (NYSE:PNC) traded down 1.29% on Tuesday, hitting $90.51. The stock had a trading volume of 2,733,735 shares. The stock has a market cap of $44.48 billion, a PE ratio of 12.49 and a beta of 0.91. The firm’s 50 day moving average price is $89.40 and its 200-day moving average price is $86.09. PNC Financial Services Group has a 12 month low of $77.40 and a 12 month high of $97.50.
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PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The business had revenue of $3.79 billion for the quarter. During the same period last year, the business earned $1.88 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts forecast that PNC Financial Services Group will post $7.10 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Monday, October 17th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.40%. PNC Financial Services Group’s payout ratio is 30.26%.
In other news, insider Michael J. Hannon sold 33,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $86.49, for a total value of $2,854,170.00. Following the completion of the sale, the insider now directly owns 87,573 shares of the company’s stock, valued at $7,574,188.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Hesse bought 500 shares of PNC Financial Services Group stock in a transaction dated Thursday, July 21st. The stock was acquired at an average cost of $82.44 per share, with a total value of $41,220.00. Following the completion of the acquisition, the director now directly owns 1,100 shares of the company’s stock, valued at approximately $90,684. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in PNC. Iowa State Bank acquired a new stake in shares of PNC Financial Services Group during the second quarter worth approximately $114,000. Barrett Asset Management LLC raised its position in shares of PNC Financial Services Group by 162.3% in the second quarter. Barrett Asset Management LLC now owns 1,705 shares of the company’s stock worth $139,000 after buying an additional 1,055 shares during the period. Enterprise Financial Services Corp raised its position in shares of PNC Financial Services Group by 5.8% in the second quarter. Enterprise Financial Services Corp now owns 1,797 shares of the company’s stock worth $146,000 after buying an additional 99 shares during the period. M&R Capital Management Inc. purchased a new position in shares of PNC Financial Services Group during the second quarter worth about $146,000. Finally, NEXT Financial Group Inc raised its position in shares of PNC Financial Services Group by 42.8% in the second quarter. NEXT Financial Group Inc now owns 2,006 shares of the company’s stock worth $163,000 after buying an additional 601 shares during the period. 80.22% of the stock is owned by institutional investors and hedge funds.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.
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