The PNC Financial Services Group’s (PNC) “Underperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their underperform rating on shares of The PNC Financial Services Group (NYSE:PNC) in a research note released on Wednesday morning, Benzinga reports. They currently have a $152.00 target price on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on PNC. UBS Group boosted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a neutral rating in a report on Thursday, January 18th. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a neutral rating in a report on Monday, April 1st. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. HSBC upgraded The PNC Financial Services Group from a reduce rating to a hold rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Jefferies Financial Group boosted their price objective on The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a hold rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $156.63.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $152.30 on Wednesday. The business’s 50 day moving average price is $151.89 and its two-hundred day moving average price is $141.95. The company has a market cap of $60.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.67 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 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 announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 earnings per share. On average, analysts predict that The PNC Financial Services Group will post 12.62 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group 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 transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PNC. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $1,039,481,000. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 122,771.6% during the fourth 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. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares in the last quarter. Finally, Morgan Stanley increased its holdings in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.