PNC Financial Services Group Inc (PNC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of PNC Financial Services Group Inc (NYSE:PNC) have been given a consensus rating of “Hold” by the twenty-six ratings firms that are presently covering the firm, MarketBeat.com reports. Eighteen research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $147.92.

Several equities analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $162.00 target price on shares of PNC Financial Services Group in a report on Friday, December 29th. Morgan Stanley lifted their target price on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, October 31st. Goldman Sachs Group lowered shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $150.00 target price on shares of PNC Financial Services Group in a report on Friday, January 5th.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider E William Parsley III sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. Insiders have sold 103,894 shares of company stock valued at $14,897,513 in the last three months. 0.43% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in PNC Financial Services Group by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares during the period. Atlantic Trust LLC bought a new stake in PNC Financial Services Group in the 2nd quarter worth approximately $129,000. Legacy Advisors LLC bought a new stake in PNC Financial Services Group in the 3rd quarter worth approximately $136,000. Quadrant Capital Group LLC grew its position in PNC Financial Services Group by 0.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 4 shares during the period. Finally, Resources Investment Advisors Inc. grew its position in PNC Financial Services Group by 130.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 600 shares during the period. 82.24% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group (NYSE:PNC) opened at $149.38 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. PNC Financial Services Group has a 1-year low of $115.25 and a 1-year high of $160.07. The company has a market cap of $71,080.00, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 29.60% and a return on equity of 9.52%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business posted $1.97 earnings per share. PNC Financial Services Group’s quarterly revenue was up 10.0% compared to the same quarter last year. equities analysts anticipate that PNC Financial Services Group will post 10.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Wednesday, January 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 28.76%.

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PNC Financial Services Group Company Profile

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.

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

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