PNC Financial Services Group Inc (PNC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of PNC Financial Services Group Inc (NYSE:PNC) have earned a consensus recommendation of “Hold” from the twenty-six ratings firms that are covering the firm, Marketbeat.com reports. Seventeen research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $143.45.
Several research analysts recently commented on PNC shares. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a report on Tuesday, September 19th. Deutsche Bank restated a “hold” rating and set a $136.00 target price (up previously from $130.00) on shares of PNC Financial Services Group in a report on Tuesday, September 26th. Nomura increased their target price on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Instinet restated a “neutral” rating and set a $132.00 target price (up previously from $129.00) on shares of PNC Financial Services Group in a report on Saturday, September 30th. Finally, Robert W. Baird restated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a report on Sunday, October 1st.
In other news, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Q. Reilly sold 19,576 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the sale, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,523 shares of company stock valued at $15,392,168. Corporate insiders own 0.43% of the company’s stock.
PNC Financial Services Group (NYSE PNC) opened at $151.84 on Monday. PNC Financial Services Group has a 1-year low of $113.66 and a 1-year high of $153.50. The company has a market cap of $72,245.63, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24.
PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. analysts forecast that PNC Financial Services Group will post 9.89 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis 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%.
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.
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