ValuEngine lowered shares of PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.
Several other equities research analysts also recently weighed in on the company. Barclays increased their price target on PNC Financial Services Group from $156.00 to $157.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Morgan Stanley cut their price target on PNC Financial Services Group from $142.00 to $136.00 and set an equal weight rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on PNC Financial Services Group from $137.50 to $142.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $142.99.
PNC traded down $0.30 during midday trading on Thursday, hitting $137.96. 1,859,437 shares of the company were exchanged, compared to its average volume of 1,751,648. The business has a 50 day moving average of $138.72. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.40. PNC Financial Services Group has a 1-year low of $108.45 and a 1-year high of $147.00.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.05. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.72 EPS. On average, research analysts anticipate that PNC Financial Services Group will post 11.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 19th will be given a dividend of $1.15 per share. The ex-dividend date is Thursday, July 18th. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.33%. PNC Financial Services Group’s dividend payout ratio (DPR) is 42.95%.
In related news, insider Karen L. Larrimer sold 7,806 shares of PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $142.27, for a total value of $1,110,559.62. Following the sale, the insider now directly owns 30,978 shares in the company, valued at approximately $4,407,240.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory H. Kozich sold 3,441 shares of PNC Financial Services Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $144.24, for a total value of $496,329.84. Following the completion of the sale, the insider now owns 6,639 shares in the company, valued at $957,609.36. The disclosure for this sale can be found here. Insiders have sold a total of 141,242 shares of company stock worth $19,853,468 over the last 90 days. Insiders own 0.37% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PNC Financial Services Group in the 1st quarter worth about $25,000. Field & Main Bank acquired a new stake in PNC Financial Services Group in the 1st quarter worth about $25,000. IMA Wealth Inc. acquired a new stake in PNC Financial Services Group in the 1st quarter worth about $25,000. Penserra Capital Management LLC acquired a new stake in PNC Financial Services Group in the 1st quarter worth about $25,000. Finally, Westside Investment Management Inc. acquired a new stake in PNC Financial Services Group in the 2nd quarter worth about $29,000. Institutional investors own 80.63% 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. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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