PNC Financial Services Group (PNC) Lowered to Sell at ValuEngine

ValuEngine cut shares of PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a report issued on Friday.

Separately, Vining Sparks reiterated a buy rating and issued a $160.00 price target on shares of PNC Financial Services Group in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $156.37.

Shares of PNC Financial Services Group stock traded down $7.35 during trading on Friday, hitting $124.26. The company’s stock had a trading volume of 7,611,322 shares, compared to its average volume of 2,225,490. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market cap of $63.23 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.24 and a beta of 0.92. PNC Financial Services Group has a 52 week low of $121.61 and a 52 week high of $163.59.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. PNC Financial Services Group had a net margin of 30.40% and a return on equity of 10.33%. During the same period last year, the business earned $2.16 EPS. On average, equities analysts anticipate that PNC Financial Services Group will post 10.71 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a yield of 3.06%. PNC Financial Services Group’s dividend payout ratio is currently 44.71%.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 5,247 shares of the firm’s stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $141.38, for a total transaction of $741,820.86. Following the completion of the sale, the insider now directly owns 58,239 shares in the company, valued at approximately $8,233,829.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the sale, the executive vice president now owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,957 shares of company stock valued at $8,301,859. 0.38% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PNC. Braun Bostich & Associates Inc. purchased a new stake in shares of PNC Financial Services Group during the 1st quarter valued at about $105,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of PNC Financial Services Group during the 1st quarter valued at about $150,000. Landaas & Co. WI ADV purchased a new stake in shares of PNC Financial Services Group during the 2nd quarter valued at about $147,000. Archford Capital Strategies LLC boosted its holdings in shares of PNC Financial Services Group by 197.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 723 shares during the last quarter. Finally, Kaizen Advisory LLC boosted its holdings in shares of PNC Financial Services Group by 147.8% during the 2nd quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 686 shares during the last quarter. Institutional investors and hedge funds own 79.83% 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 and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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: Diversification

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

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