Traders sold shares of PNC Financial Services Group Inc (NYSE:PNC) on strength during trading on Friday. $66.42 million flowed into the stock on the tick-up and $102.48 million flowed out of the stock on the tick-down, for a money net flow of $36.06 million out of the stock. Of all stocks tracked, PNC Financial Services Group had the 14th highest net out-flow for the day. PNC Financial Services Group traded up $0.14 for the day and closed at $129.88
PNC has been the topic of several research analyst reports. Vining Sparks reaffirmed a “buy” rating and set a $160.00 price objective on shares of PNC Financial Services Group in a research note on Tuesday, October 9th. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Sanford C. Bernstein raised PNC Financial Services Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $158.00 to $145.00 in a research note on Monday, October 15th. Deutsche Bank raised PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, October 15th. Finally, Morgan Stanley dropped their price objective on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $155.50.
The firm has a market capitalization of $57.93 billion, a PE ratio of 15.28, a PEG ratio of 1.23 and a beta of 0.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.23.
PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same quarter in the prior year, the company earned $2.16 EPS. As a group, equities analysts expect that PNC Financial Services Group Inc will post 10.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.71%.
In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the completion of the transaction, the executive vice president now owns 131,020 shares in the company, valued at approximately $18,406,999.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors bought a new position in shares of PNC Financial Services Group in the 3rd quarter valued at about $127,000. Moneta Group Investment Advisors LLC bought a new position in shares of PNC Financial Services Group in the 2nd quarter valued at about $143,000. Archford Capital Strategies LLC grew its holdings in shares of PNC Financial Services Group by 197.0% in 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 in the last quarter. Landaas & Co. WI ADV bought a new position in shares of PNC Financial Services Group in the 2nd quarter valued at about $147,000. Finally, Kaizen Advisory LLC grew its holdings in shares of PNC Financial Services Group by 147.8% in 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 in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.
About PNC Financial Services Group (NYSE:PNC)
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.
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