PNC Financial Services Group (PNC) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of PNC Financial Services Group (NYSE:PNC) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages also recently commented on PNC. Sanford C. Bernstein upgraded shares of PNC Financial Services Group from a market perform rating to an outperform rating and dropped their target price for the stock from $158.00 to $145.00 in a report on Monday, October 15th. BMO Capital Markets dropped their target price on shares of PNC Financial Services Group to $139.00 and set an outperform rating on the stock in a report on Monday, October 15th. They noted that the move was a valuation call. Nomura dropped their target price on shares of PNC Financial Services Group from $162.00 to $140.00 and set a neutral rating on the stock in a report on Monday, October 15th. UBS Group set a $137.00 target price on shares of PNC Financial Services Group and gave the stock a hold rating in a report on Monday, October 15th. Finally, Deutsche Bank upgraded shares of PNC Financial Services Group from a hold rating to a buy rating in a report on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $155.50.

PNC traded up $0.14 during trading on Thursday, hitting $129.88. The stock had a trading volume of 2,615,301 shares, compared to its average volume of 3,302,876. The company has a market capitalization of $60.30 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. PNC Financial Services Group has a 12 month low of $116.55 and a 12 month high of $163.59. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.91 and a quick ratio of 0.91.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.32 billion. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. During the same quarter last year, the firm posted $2.16 EPS. Analysts anticipate that PNC Financial Services Group will post 10.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $3.80 annualized dividend and a yield of 2.93%. PNC Financial Services Group’s dividend payout ratio is 44.71%.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now directly owns 131,020 shares in the company, valued at approximately $18,406,999.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank boosted its position in shares of PNC Financial Services Group by 18.2% during the 2nd quarter. Toronto Dominion Bank now owns 310,829 shares of the financial services provider’s stock valued at $41,984,000 after acquiring an additional 47,843 shares in the last quarter. Cardinal Capital Management Inc. boosted its position in shares of PNC Financial Services Group by 6.1% during the 3rd quarter. Cardinal Capital Management Inc. now owns 69,510 shares of the financial services provider’s stock valued at $9,467,000 after acquiring an additional 4,000 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of PNC Financial Services Group by 10.1% during the 2nd quarter. Banque Pictet & Cie SA now owns 12,868 shares of the financial services provider’s stock valued at $1,738,000 after acquiring an additional 1,183 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of PNC Financial Services Group by 0.4% during the 2nd quarter. California Public Employees Retirement System now owns 1,311,395 shares of the financial services provider’s stock valued at $177,169,000 after acquiring an additional 5,470 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in shares of PNC Financial Services Group by 21.2% during the 2nd quarter. Stephens Inc. AR now owns 21,911 shares of the financial services provider’s stock valued at $2,960,000 after acquiring an additional 3,828 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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