PNC Financial Services Group (PNC) Rating Reiterated by Credit Suisse Group

PNC Financial Services Group (NYSE:PNC)‘s stock had its “hold” rating reaffirmed by Credit Suisse Group in a research report issued to clients and investors on Friday, January 5th. They currently have a $150.00 price objective on the financial services provider’s stock. Credit Suisse Group’s target price indicates a potential downside of 1.21% from the stock’s previous close.

Other analysts also recently issued reports about the company. Piper Jaffray Companies restated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group in a research note on Wednesday, October 4th. Robert W. Baird restated a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group in a research note on Sunday, October 1st. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Tuesday, September 19th. Royal Bank of Canada reiterated a “buy” rating on shares of PNC Financial Services Group in a research note on Monday, October 16th. Finally, Goldman Sachs Group downgraded PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Seventeen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $141.08.

Shares of PNC Financial Services Group (NYSE PNC) traded up $0.35 on Friday, hitting $151.84. The company had a trading volume of 3,280,000 shares, compared to its average volume of 2,020,000. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market cap of $72,250.00, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.51 and a beta of 0.90. PNC Financial Services Group has a twelve month low of $113.66 and a twelve month high of $153.50.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 11th. The financial services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company posted $1.97 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. equities research analysts forecast that PNC Financial Services Group will post 8.43 EPS for the current year.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider E William Parsley III sold 46,307 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $143.43, for a total value of $6,641,813.01. Following the sale, the insider now directly owns 132,544 shares in the company, valued at approximately $19,010,785.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,523 shares of company stock worth $15,392,168. Corporate insiders own 0.43% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its holdings in shares of PNC Financial Services Group by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Hudock Capital Group LLC increased its holdings in shares of PNC Financial Services Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after buying an additional 11 shares in the last quarter. Green Square Capital LLC increased its holdings in shares of PNC Financial Services Group by 0.4% in the second quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock valued at $518,000 after buying an additional 18 shares in the last quarter. First Interstate Bank increased its holdings in shares of PNC Financial Services Group by 2.6% in the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after buying an additional 25 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of PNC Financial Services Group by 2.0% in the second quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock valued at $295,000 after buying an additional 46 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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