PNC Financial Services Group (PNC) Upgraded to “Hold” at ValuEngine

PNC Financial Services Group (NYSE:PNC) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms have also commented on PNC. Sanford C. Bernstein raised shares of PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $158.00 to $145.00 in a research report on Monday, October 15th. BMO Capital Markets decreased their price target on shares of PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a research report on Monday, October 15th. They noted that the move was a valuation call. Nomura decreased their price target on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, October 15th. UBS Group set a $137.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Monday, October 15th. Finally, Deutsche Bank raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $155.50.

NYSE:PNC traded up $0.14 during mid-day trading on Thursday, reaching $129.88. The company’s stock had a trading volume of 2,615,301 shares, compared to its average volume of 3,213,313. PNC Financial Services Group has a 1 year low of $116.55 and a 1 year high of $163.59.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the company posted $2.16 earnings per share.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 131,020 shares in the company, valued at approximately $18,406,999.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PNC. TRUE Private Wealth Advisors purchased a new position in shares of PNC Financial Services Group during the 3rd quarter worth $127,000. Moneta Group Investment Advisors LLC purchased a new position in shares of PNC Financial Services Group during the 2nd quarter worth $143,000. Landaas & Co. WI ADV purchased a new position in shares of PNC Financial Services Group during the 2nd quarter worth $147,000. Archford Capital Strategies LLC raised 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 worth $147,000 after acquiring an additional 723 shares during the period. Finally, Kaizen Advisory LLC raised 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 worth $155,000 after acquiring an additional 686 shares during the period. Institutional investors own 79.98% 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.

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

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