The PNC Financial Services Group (NYSE:PNC) Upgraded by StockNews.com to “Hold”

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

A number of other analysts have also recently issued reports on PNC. HSBC raised The PNC Financial Services Group from a reduce rating to a hold rating and increased their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. UBS Group raised their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Evercore ISI decreased their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods reissued an underperform rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday. Finally, Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a hold rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of Hold and an average target price of $156.63.

The PNC Financial Services Group Price Performance

PNC opened at $147.82 on Thursday. The company has a market capitalization of $58.80 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.18. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $151.80 and a 200-day moving average price of $141.72. 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) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group will post 12.47 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’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 value 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 approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $28,000. Finally, Fortis Group Advisors LLC lifted its holdings in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after buying an additional 100 shares during the period. 83.53% of the stock is 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.