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 report released on Tuesday morning.

A number of other brokerages also recently issued reports on PNC. HSBC upgraded shares of The PNC Financial Services Group from a reduce rating to a hold rating and lifted their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research note on Monday, April 1st. 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 research note on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an underperform rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $157.02.

The PNC Financial Services Group Trading Down 2.4 %

NYSE PNC opened at $152.77 on Tuesday. The firm has a 50 day simple moving average of $155.84 and a 200-day simple moving average of $148.62. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24. The firm has a market cap of $60.79 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.06 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.06%. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently modified their holdings of the business. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $28,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Finally, LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at $28,000. 83.53% of the stock is owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.