The PNC Financial Services Group (NYSE:PNC) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a research note published on Friday morning.

Several other analysts have also recently weighed in on the company. Morgan Stanley dropped their price objective on The PNC Financial Services Group from $144.00 to $142.00 and set an underweight rating for the company in a report on Tuesday, October 3rd. Odeon Capital Group cut shares of The PNC Financial Services Group from a buy rating to a hold rating in a research report on Friday, July 21st. Stephens lowered their price target on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an equal weight rating on the stock in a research note on Monday, October 16th. Jefferies Financial Group lifted their price target on shares of The PNC Financial Services Group from $112.00 to $127.00 in a research note on Tuesday, October 10th. Finally, HSBC started coverage on shares of The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a reduce rating and a $110.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $150.99.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $130.34 on Friday. The company’s fifty day moving average is $120.50 and its 200-day moving average is $123.00. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $170.27. The firm has a market cap of $51.92 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $3.78 EPS. The business’s revenue was down 5.7% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group will post 13.86 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.76%. The ex-dividend date was Monday, October 16th. The PNC Financial Services Group’s payout ratio is 43.03%.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $25,000. Centerpoint Advisors LLC bought a new position in The PNC Financial Services Group during the first quarter worth $26,000. Fiduciary Alliance LLC bought a new position in The PNC Financial Services Group during the second quarter worth $27,000. Finally, DHJJ Financial Advisors Ltd. bought a new position in The PNC Financial Services Group during the third quarter worth $29,000. Institutional investors own 80.14% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.