PNC Financial Services Group Inc (NYSE:PNC) Given Consensus Recommendation of “Hold” by Analysts

Shares of PNC Financial Services Group Inc (NYSE:PNC) have earned an average rating of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $142.99.

Several research firms have weighed in on PNC. JPMorgan Chase & Co. increased their price objective on PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays increased their target price on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Morgan Stanley decreased their target price on PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th.

In related news, insider Gregory H. Kozich sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.82, for a total transaction of $1,398,200.00. Following the completion of the transaction, the insider now owns 20,080 shares of the company’s stock, valued at approximately $2,807,585.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total value of $692,050.00. Following the transaction, the insider now directly owns 52,417 shares of the company’s stock, valued at approximately $7,255,036.97. The disclosure for this sale can be found here. Insiders sold a total of 141,242 shares of company stock valued at $19,853,468 in the last three months. Corporate insiders own 0.37% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PNC. Thoroughbred Financial Services LLC increased its position in PNC Financial Services Group by 13,808.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,885,933 shares of the financial services provider’s stock valued at $188,593,000 after buying an additional 1,872,373 shares in the last quarter. FMR LLC increased its position in PNC Financial Services Group by 3.8% during the 1st quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock valued at $1,382,040,000 after buying an additional 407,250 shares in the last quarter. Hexavest Inc. bought a new position in PNC Financial Services Group during the 2nd quarter valued at approximately $53,247,000. American Century Companies Inc. increased its position in PNC Financial Services Group by 8.9% during the 1st quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock valued at $533,982,000 after buying an additional 357,041 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in PNC Financial Services Group by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after buying an additional 323,714 shares in the last quarter. 80.59% of the stock is owned by institutional investors.

NYSE PNC traded up $0.75 on Monday, hitting $132.34. The company’s stock had a trading volume of 2,023,469 shares, compared to its average volume of 2,086,153. PNC Financial Services Group has a 52-week low of $108.45 and a 52-week high of $147.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50-day simple moving average is $138.63. The firm has a market capitalization of $57.78 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.69 and a beta of 1.07.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the business posted $2.72 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that PNC Financial Services Group will post 11.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were given a $1.15 dividend. The ex-dividend date was Thursday, July 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.48%. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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