The PNC Financial Services Group, Inc (NYSE:PNC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The PNC Financial Services Group, Inc (NYSE:PNC) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $252.7059.

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Stephens started coverage on shares of The PNC Financial Services Group in a research note on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price for the company. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley increased their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the period. State Street Corp raised its stake in The PNC Financial Services Group by 0.4% during the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after purchasing an additional 77,302 shares during the period. Capital International Investors raised its stake in The PNC Financial Services Group by 10.2% during the fourth quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after purchasing an additional 1,101,055 shares during the period. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $1,967,080,000. Finally, Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after purchasing an additional 30,078 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.1%

Shares of PNC stock opened at $249.13 on Friday. The company has a market capitalization of $100.04 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.02 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $226.89 and a 200 day moving average price of $220.62. The PNC Financial Services Group has a twelve month low of $176.88 and a twelve month high of $254.00.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $3.51 EPS. Research analysts forecast that The PNC Financial Services Group will post 18.82 earnings per share for the current fiscal year.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.