The PNC Financial Services Group (NYSE:PNC) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

The PNC Financial Services Group (NYSE:PNC) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Thursday, Marketbeat reports. They presently have a $265.00 price objective on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 5.75% from the company’s previous close.

Several other research firms also recently issued reports on PNC. Oppenheimer boosted their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Robert W. Baird boosted their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. Argus raised their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.48.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $250.59 on Thursday. The company has a market capitalization of $100.63 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.99 and a beta of 0.91. The PNC Financial Services Group has a twelve month low of $176.88 and a twelve month high of $256.49. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average of $236.91 and a two-hundred day moving average of $224.87.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the business posted $3.85 earnings per share. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, analysts expect that The PNC Financial Services Group will post 19.25 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other news, 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 transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Large investors have recently modified their holdings of the company. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group in the 4th quarter worth $25,000. Quarry LP bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $29,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the first quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares during the period. 83.53% of the stock is owned by institutional investors.

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.