PNC Financial Services Group (NYSE:PNC) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research initiated coverage on shares of PNC Financial Services Group (NYSE:PNC) in a research report issued on Friday, The Fly reports. The firm set an “underperform” rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on PNC. Standpoint Research initiated coverage on PNC Financial Services Group in a research report on Monday, May 18th. They issued an “accumulate” rating on the stock. ValuEngine lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Bank of America cut their target price on PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Deutsche Bank cut their target price on PNC Financial Services Group from $155.00 to $108.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of PNC Financial Services Group in a research report on Wednesday, July 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $124.21.

PNC opened at $106.67 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.88 and a quick ratio of 0.87. PNC Financial Services Group has a 12 month low of $79.41 and a 12 month high of $161.79. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 4.15 and a beta of 1.29. The business has a 50-day moving average of $105.18 and a two-hundred day moving average of $116.06.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) EPS for the quarter, missing the consensus estimate of $0.88 by ($2.78). The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.88 earnings per share. Equities research analysts anticipate that PNC Financial Services Group will post 3.67 earnings per share for the current year.

In related news, Director Richard J. Harshman acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $97.55 per share, for a total transaction of $97,550.00. Following the purchase, the director now directly owns 1,150 shares in the company, valued at $112,182.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. grew its holdings in PNC Financial Services Group by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 96,741 shares of the financial services provider’s stock worth $15,443,000 after purchasing an additional 504 shares during the period. Quadrant Capital Group LLC lifted its position in shares of PNC Financial Services Group by 24.1% during the fourth quarter. Quadrant Capital Group LLC now owns 2,769 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 538 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of PNC Financial Services Group by 6.1% during the first quarter. Fulton Bank N.A. now owns 23,348 shares of the financial services provider’s stock worth $2,235,000 after purchasing an additional 1,351 shares in the last quarter. Triangle Securities Wealth Management acquired a new stake in shares of PNC Financial Services Group during the first quarter worth about $245,000. Finally, State of Alaska Department of Revenue lifted its position in shares of PNC Financial Services Group by 6.5% during the first quarter. State of Alaska Department of Revenue now owns 115,247 shares of the financial services provider’s stock worth $11,030,000 after purchasing an additional 7,026 shares in the last quarter. Hedge funds and other institutional investors own 80.49% 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. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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.

Further Reading: What are the reasons investors use put options?

The Fly

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.