StockNews.com cut shares of The PNC Financial Services Group (NYSE:PNC – Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
Several other research analysts also recently issued reports on the company. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and upped their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday, April 17th. Bank of America upped their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a neutral rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed 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, The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $156.63.
Check Out Our Latest Research Report on The PNC Financial Services Group
The PNC Financial Services Group Stock Down 0.1 %
Shares of NYSE:PNC traded down $0.19 on Friday, reaching $156.11. The company had a trading volume of 979,207 shares, compared to its average volume of 2,112,624. The stock has a 50-day moving average price of $152.76 and a 200 day moving average price of $143.22. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $62.10 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.79 and a beta of 1.18. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $162.24.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.98 EPS. On average, equities analysts expect that The PNC Financial Services Group will post 12.62 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
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 issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.
Insider Buying and Selling
In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On The PNC Financial Services Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Fortis Group Advisors LLC increased its stake in The PNC Financial Services Group by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
The PNC Financial Services Group Company Profile
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.
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