PNC Financial Services Group (NYSE:PNC) Rating Lowered to Sell at ValuEngine

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ValuEngine downgraded shares of PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a research report report published on Tuesday morning, ValuEngine reports.

A number of other research analysts have also issued reports on the stock. UBS Group increased their target price on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the stock a neutral rating in a research report on Monday, October 21st. Wells Fargo & Co raised their target price on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the stock a market perform rating in a report on Thursday, October 17th. Morgan Stanley reiterated a hold rating on shares of PNC Financial Services Group in a research report on Monday, November 18th. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the company a buy rating in a research note on Monday, August 26th. Finally, Zacks Investment Research cut PNC Financial Services Group from a hold rating to a sell rating and set a $147.00 price target for the company. in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $144.17.

Shares of PNC Financial Services Group stock opened at $149.74 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a 50-day moving average of $149.29 and a 200-day moving average of $138.64. PNC Financial Services Group has a 52-week low of $108.45 and a 52-week high of $154.75. The stock has a market cap of $68.22 billion, a PE ratio of 13.98, a PEG ratio of 1.85 and a beta of 1.14.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the firm earned $2.82 earnings per share. PNC Financial Services Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that PNC Financial Services Group will post 11.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Thursday, October 17th were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.07%. PNC Financial Services Group’s payout ratio is 42.95%.

In other PNC Financial Services Group news, EVP Vicki C. Henn sold 3,723 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $151.96, for a total transaction of $565,747.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karen L. Larrimer sold 2,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $152.29, for a total value of $304,580.00. Following the sale, the executive vice president now owns 21,172 shares of the company’s stock, valued at $3,224,283.88. The disclosure for this sale can be found here. Insiders have sold 171,755 shares of company stock worth $25,765,522 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI grew its position in PNC Financial Services Group by 38.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,895 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 807 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in shares of PNC Financial Services Group in the 2nd quarter valued at approximately $29,000. Greenleaf Trust boosted its stake in shares of PNC Financial Services Group by 4.0% in the 2nd quarter. Greenleaf Trust now owns 5,130 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 198 shares in the last quarter. Manning & Napier Group LLC grew its holdings in shares of PNC Financial Services Group by 6.6% during the 2nd quarter. Manning & Napier Group LLC now owns 6,679 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 415 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of PNC Financial Services Group by 4.4% during the 2nd quarter. Brookstone Capital Management now owns 2,134 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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