StockNews.com Upgrades The PNC Financial Services Group (NYSE:PNC) to Hold

The PNC Financial Services Group (NYSE:PNC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also recently issued reports on PNC. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Bank of America boosted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Evercore ISI reduced their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Up 3.0 %

Shares of NYSE PNC opened at $152.30 on Thursday. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50 day simple moving average of $151.89 and a 200-day simple moving average of $141.95. The company has a market capitalization of $60.59 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group will post 12.47 earnings per share for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following 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 is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FORVIS Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 24.8% during the first quarter. FORVIS Wealth Advisors LLC now owns 3,326 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 662 shares during the period. GenTrust LLC increased its stake in shares of The PNC Financial Services Group by 0.3% during the first quarter. GenTrust LLC now owns 72,414 shares of the financial services provider’s stock worth $11,702,000 after acquiring an additional 235 shares during the period. First Trust Direct Indexing L.P. grew its position in The PNC Financial Services Group by 11.1% during the first quarter. First Trust Direct Indexing L.P. now owns 11,057 shares of the financial services provider’s stock worth $1,787,000 after buying an additional 1,102 shares during the period. Advisor Resource Council acquired a new position in The PNC Financial Services Group during the first quarter worth about $236,000. Finally, DMC Group LLC grew its position in The PNC Financial Services Group by 9.7% during the first quarter. DMC Group LLC now owns 2,384 shares of the financial services provider’s stock worth $385,000 after buying an additional 210 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.