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

StockNews.com cut shares of The PNC Financial Services Group (NYSE:PNCFree Report) from a hold rating to a sell rating in a report published on Friday.

Several other analysts also recently commented on the company. Stephens cut their target price on The PNC Financial Services Group from $143.00 to $138.00 and set an equal weight rating on the stock in a research note on Monday, October 16th. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $112.00 to $127.00 in a research note on Tuesday, October 10th. HSBC started coverage on The PNC Financial Services Group in a research note on Thursday, September 7th. They set a reduce rating and a $110.00 target price on the stock. Royal Bank of Canada reiterated an outperform rating and set a $140.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. Finally, Morgan Stanley lowered their price target on The PNC Financial Services Group from $144.00 to $142.00 and set an underweight rating on the stock in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $150.99.

Check Out Our Latest Stock Report on The PNC Financial Services Group

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $130.26 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $51.89 billion, a P/E ratio of 9.04, a PEG ratio of 1.15 and a beta of 1.14. The stock’s 50 day moving average is $120.25 and its 200 day moving average is $122.81. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $170.27.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business posted $3.78 EPS. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that The PNC Financial Services Group will post 13.86 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were issued a $1.55 dividend. The ex-dividend date was Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a yield of 4.76%. The PNC Financial Services Group’s dividend payout ratio is currently 43.03%.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of institutional investors have recently bought and sold shares of PNC. Price T Rowe Associates Inc. MD raised its holdings in The PNC Financial Services Group by 788.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock worth $1,080,490,000 after purchasing an additional 7,544,029 shares during the period. Capital International Investors increased its stake in The PNC Financial Services Group by 615.1% in the 2nd quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock worth $1,086,142,000 after buying an additional 7,417,830 shares in the last quarter. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $735,469,000. Moneta Group Investment Advisors LLC increased its stake in The PNC Financial Services Group by 122,771.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after buying an additional 2,538,916 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in The PNC Financial Services Group by 98,059.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock worth $186,931,000 after buying an additional 1,482,657 shares in the last quarter. 80.14% of the stock is owned by institutional investors.

About The PNC Financial Services Group

(Get Free Report)

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 certificates of 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.

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Analyst Recommendations for The PNC Financial Services Group (NYSE:PNC)

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