PNC Financial Services Group (PNC) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of PNC Financial Services Group (NYSE:PNC) from a sell rating to a hold rating in a research report released on Thursday, ValuEngine reports.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of PNC Financial Services Group from a sell rating to a hold rating in a research note on Tuesday, March 26th. UBS Group set a $133.00 price target on shares of PNC Financial Services Group and gave the company a hold rating in a research note on Tuesday, April 2nd. Barclays lifted their price target on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Macquarie raised shares of PNC Financial Services Group from a neutral rating to an outperform rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group reaffirmed a hold rating and issued a $146.00 price target on shares of PNC Financial Services Group in a research note on Thursday, January 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $145.66.

PNC Financial Services Group stock opened at $133.19 on Thursday. PNC Financial Services Group has a fifty-two week low of $108.45 and a fifty-two week high of $152.29. The company has a market cap of $60.42 billion, a P/E ratio of 12.44, a PEG ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.90 and a current ratio of 0.91.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, hitting the consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm earned $2.43 EPS. Analysts expect that PNC Financial Services Group will post 11.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, April 15th. PNC Financial Services Group’s payout ratio is currently 35.48%.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,000 shares of PNC Financial Services Group stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $124.82, for a total value of $624,100.00. Following the transaction, the insider now owns 53,239 shares of the company’s stock, valued at $6,645,291.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Q. Reilly sold 12,361 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the completion of the transaction, the executive vice president now directly owns 118,671 shares in the company, valued at approximately $14,537,197.50. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. Martingale Asset Management L P raised its holdings in shares of PNC Financial Services Group by 3.3% in the third quarter. Martingale Asset Management L P now owns 22,319 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 707 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of PNC Financial Services Group by 2.3% in the third quarter. Thrivent Financial for Lutherans now owns 20,159 shares of the financial services provider’s stock valued at $2,745,000 after purchasing an additional 445 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of PNC Financial Services Group by 215.9% in the third quarter. Captrust Financial Advisors now owns 10,352 shares of the financial services provider’s stock valued at $1,410,000 after purchasing an additional 7,075 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of PNC Financial Services Group by 3.8% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 35,700 shares of the financial services provider’s stock valued at $4,862,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of PNC Financial Services Group in the third quarter valued at approximately $3,408,000. Institutional investors own 82.27% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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