The PNC Financial Services Group (NYSE:PNC) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of The PNC Financial Services Group (NYSE:PNCFree Report) from a sell rating to a hold rating in a research note released on Monday morning.

PNC has been the subject of a number of other reports. Evercore ISI decreased their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group cut their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a research report on Tuesday, January 30th. Finally, Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of Hold and an average price target of $157.02.

Check Out Our Latest Research Report on The PNC Financial Services Group

The PNC Financial Services Group Stock Up 1.2 %

PNC stock opened at $161.34 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a 50-day moving average of $154.82 and a two-hundred day moving average of $147.02. The stock has a market capitalization of $64.20 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insiders Place Their Bets

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group during the third quarter worth $25,000. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

(Get Free Report)

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 time 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.

Further Reading

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

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