The PNC Financial Services Group, Inc. (NYSE:PNC) Given Consensus Recommendation of “Hold” by Analysts

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $186.96.

PNC has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $207.68 on Monday. The PNC Financial Services Group has a 52-week low of $127.08 and a 52-week high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $82.40 billion, a PE ratio of 17.56, a P/E/G ratio of 2.17 and a beta of 1.13. The company has a 50-day simple moving average of $188.25 and a 200-day simple moving average of $173.07.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 EPS. Equities research analysts predict that The PNC Financial Services Group will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,546 shares of company stock worth $5,277,493 over the last ninety days. 0.42% of the stock is owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after purchasing an additional 262,654 shares in the last quarter. 83.53% of the stock is 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. 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.