StockNews.com Lowers The PNC Financial Services Group (NYSE:PNC) to Sell

StockNews.com cut shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a report issued on Friday.

PNC has been the subject of several other research reports. Morgan Stanley upped their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a report on Tuesday, January 30th. HSBC upgraded The PNC Financial Services Group from a reduce rating to a hold rating and upped their price objective for the company from $141.00 to $155.00 in a report on Thursday, March 28th. UBS Group upped their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a report on Thursday, January 18th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Finally, Jefferies Financial Group cut their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating on the stock in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of Hold and a consensus price target of $156.63.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock opened at $156.11 on Friday. 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 1 year low of $109.40 and a 1 year high of $162.24. The stock has a fifty day moving average of $152.76 and a two-hundred day moving average of $143.51. The firm has a market capitalization of $62.10 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.98 earnings per share. As a group, research analysts expect that The PNC Financial Services Group will post 12.65 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter worth about $323,000. AQR Capital Management LLC increased its position in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares during the last quarter. Trust Point Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter worth about $295,000. 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.