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

Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) have earned an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $159.63.

A number of research analysts recently commented on PNC shares. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their target price 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. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders have sold a total of 6,419 shares of company stock valued at $1,022,826 over the last ninety days. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $26,000. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at about $28,000. Finally, Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $29,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.2 %

Shares of PNC opened at $169.02 on Tuesday. The business’s 50 day simple moving average is $156.42 and its 200-day simple moving average is $153.62. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $170.91. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $67.25 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group will post 12.67 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.