PNC Financial Services Group Inc (PNC) Receives Average Recommendation of “Hold” from Brokerages

PNC Financial Services Group Inc (NYSE:PNC) has been given an average rating of “Hold” by the twenty-six brokerages that are covering the stock, MarketBeat reports. Eighteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $147.92.

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of PNC Financial Services Group in a research note on Tuesday, January 16th. Argus lifted their target price on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their target price on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research note on Friday, January 12th.

In other news, insider E William Parsley III sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $138.68, for a total value of $3,467,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,894 shares of company stock worth $14,897,513. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors have recently bought and sold shares of PNC. Tower Research Capital LLC TRC increased its holdings in shares of PNC Financial Services Group by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after buying an additional 91 shares during the last quarter. Atlantic Trust LLC bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth about $129,000. Legacy Advisors LLC bought a new stake in shares of PNC Financial Services Group in the 3rd quarter worth about $136,000. Quadrant Capital Group LLC increased its holdings in shares of PNC Financial Services Group by 0.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Finally, Resources Investment Advisors Inc. increased its holdings in shares of PNC Financial Services Group by 130.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock worth $153,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

PNC Financial Services Group (NYSE PNC) opened at $149.38 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. PNC Financial Services Group has a one year low of $115.25 and a one year high of $160.07. The firm has a market cap of $71,080.00, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.45 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company earned $1.97 EPS. PNC Financial Services Group’s revenue for the quarter was up 10.0% on a year-over-year basis. research analysts expect that PNC Financial Services Group will post 10.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Wednesday, January 17th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, January 16th. PNC Financial Services Group’s payout ratio is currently 28.76%.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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