The PNC Financial Services Group (NYSE:PNC – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
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PNC has been the topic of a number of other reports. UBS Group lowered shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $190.00 to $176.00 in a research note on Tuesday, January 10th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 price objective on the stock in a research note on Tuesday, January 10th. Deutsche Bank Aktiengesellschaft upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, January 6th. Robert W. Baird dropped their price target on shares of The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, January 19th. Finally, Wolfe Research boosted their price target on shares of The PNC Financial Services Group from $164.00 to $170.00 in a research note on Thursday, December 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $180.41.
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC opened at $161.93 on Friday. The company’s fifty day moving average price is $158.82 and its 200 day moving average price is $159.77. The PNC Financial Services Group has a 12 month low of $143.52 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $65.31 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.29 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.46). The company had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.71 billion. The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The PNC Financial Services Group’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.86 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group will post 14.94 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, EVP Guild Deborah sold 2,833 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the completion of the sale, the executive vice president now owns 20,527 shares of the company’s stock, valued at $3,277,340.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Guild Deborah sold 2,833 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the completion of the sale, the executive vice president now owns 20,527 shares of the company’s stock, valued at $3,277,340.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak acquired 6,550 shares of the company’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average cost of $153.38 per share, with a total value of $1,004,639.00. Following the transaction, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at $74,070,883.12. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PNC. Blair William & Co. IL lifted its position in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after buying an additional 89 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of The PNC Financial Services Group by 12.0% in the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock worth $2,977,000 after acquiring an additional 1,724 shares during the period. Covestor Ltd increased its holdings in shares of The PNC Financial Services Group by 68.8% in the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 137 shares during the period. West Family Investments Inc. increased its holdings in shares of The PNC Financial Services Group by 9.1% in the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 97 shares during the period. Finally, Ergoteles LLC increased its holdings in shares of The PNC Financial Services Group by 137.9% in the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after acquiring an additional 12,201 shares during the period. 82.05% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. 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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