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

The PNC Financial Services Group, Inc. (NYSE:PNC) has received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $185.71.

Several research analysts have issued reports on PNC shares. Royal Bank of Canada increased their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Citigroup increased their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $185.64 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day moving average price of $181.20 and a 200 day moving average price of $167.47. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $196.64. The company has a market cap of $73.87 billion, a PE ratio of 15.59, a P/E/G ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the sale, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,662 shares of company stock worth $4,459,819. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the business. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $12,548,000. Integrated Advisors Network LLC lifted its stake in shares of The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 148 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $822,000. Finally, Equity Investment Corp lifted its stake in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after purchasing an additional 22,188 shares in the last quarter. 83.53% of the stock is 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.