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

StockNews.com downgraded shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a report published on Tuesday morning.

Other research analysts have also issued reports about the stock. Evercore ISI dropped their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an underperform rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Morgan Stanley upped their price objective on shares of 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $157.02.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $154.26 on Tuesday. The stock has a market capitalization of $61.38 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.02 and a beta of 1.16. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $162.24. 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 stock’s 50 day moving average price is $155.95 and its two-hundred day moving average price is $148.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. On average, equities analysts predict that The PNC Financial Services Group will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors have recently modified their holdings of PNC. Steph & Co. increased its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the period. Bangor Savings Bank increased its stake in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares in the last quarter. Triangle Securities Wealth Management boosted its position in shares of The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group grew its stake in shares of The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after buying an additional 70 shares during the last quarter. Finally, Berkshire Bank increased its position in The PNC Financial Services Group by 2.0% during the 1st quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock valued at $576,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.