PNC Financial Services Group Inc (PNC) Given Consensus Recommendation of “Hold” by Analysts

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Shares of PNC Financial Services Group Inc (NYSE:PNC) have earned an average recommendation of “Hold” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $154.93.

A number of research firms have recently commented on PNC. Vining Sparks restated a “buy” rating and issued a $160.00 target price on shares of PNC Financial Services Group in a research note on Tuesday, October 9th. ValuEngine upgraded PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. BMO Capital Markets lowered their target price on PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a research note on Monday, October 15th. They noted that the move was a valuation call. Nomura lowered their target price on PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, October 15th. Finally, UBS Group set a $137.00 target price on PNC Financial Services Group and gave the company a “hold” rating in a research note on Monday, October 15th.

NYSE PNC traded down $0.01 on Friday, hitting $134.23. The company’s stock had a trading volume of 2,250,227 shares, compared to its average volume of 3,409,259. The stock has a market cap of $61.50 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.89 and a current ratio of 0.90. PNC Financial Services Group has a 52-week low of $116.55 and a 52-week high of $163.59.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.09. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same quarter last year, the business posted $2.16 EPS. Sell-side analysts predict that PNC Financial Services Group will post 10.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, October 16th. PNC Financial Services Group’s payout ratio is 44.71%.

PNC Financial Services Group declared that its Board of Directors has initiated a share buyback plan on Thursday, November 8th that authorizes the company to buyback $900.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of PNC Financial Services Group stock in a transaction on Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the completion of the transaction, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in PNC. Putnam FL Investment Management Co. increased its holdings in shares of PNC Financial Services Group by 0.6% in the 2nd quarter. Putnam FL Investment Management Co. now owns 62,570 shares of the financial services provider’s stock worth $8,453,000 after purchasing an additional 364 shares in the last quarter. Argent Trust Co increased its holdings in shares of PNC Financial Services Group by 10.1% in the 2nd quarter. Argent Trust Co now owns 3,981 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 365 shares in the last quarter. Coastline Trust Co increased its holdings in shares of PNC Financial Services Group by 9.6% in the 2nd quarter. Coastline Trust Co now owns 4,225 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 370 shares in the last quarter. Windsor Group LTD increased its holdings in shares of PNC Financial Services Group by 11.9% in the 2nd quarter. Windsor Group LTD now owns 3,537 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 375 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of PNC Financial Services Group by 16.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,735 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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