4. QUALITY EDUCATION

The PNC Financial Services Group (NYSE:PNC) Lowered to “Sell” at StockNews.com

Written by Amanda

The PNC Financial Services Group (NYSE:PNCGet Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also issued reports about the stock. Bank of America upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Stephens cut their target price on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Morgan Stanley cut their target price on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a report on Tuesday, October 3rd. Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Finally, Odeon Capital Group lowered shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $150.99.

Get Our Latest Stock Analysis on The PNC Financial Services Group

The PNC Financial Services Group Trading Up 0.7 %

NYSE PNC traded up $0.92 during trading hours on Friday, hitting $130.26. The company’s stock had a trading volume of 2,129,084 shares, compared to its average volume of 2,919,087. The stock has a fifty day moving average of $119.99 and a 200 day moving average of $122.75. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $170.27. The firm has a market capitalization of $51.89 billion, a P/E ratio of 9.04, a PEG ratio of 1.15 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.32 billion. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $3.78 earnings per share. Equities research analysts forecast that The PNC Financial Services Group will post 13.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in shares of The PNC Financial Services Group by 788.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock valued at $1,080,490,000 after acquiring an additional 7,544,029 shares during the period. Capital International Investors grew its position in shares of The PNC Financial Services Group by 615.1% in the 2nd quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock valued at $1,086,142,000 after acquiring an additional 7,417,830 shares during the period. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC grew its position in shares of The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after acquiring an additional 2,538,916 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of The PNC Financial Services Group by 98,059.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock valued at $186,931,000 after acquiring an additional 1,482,657 shares during the period. Institutional investors own 80.14% of the company’s stock.

The PNC Financial Services Group Company Profile

(Get Free Report)

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 certificates of 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.

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Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai