The PNC Financial Services Group (NYSE:PNC) Lifted to “Hold” at StockNews.com

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

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America lifted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI dropped their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Finally, Jefferies Financial Group dropped their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $0.57 during trading hours on Thursday, reaching $147.82. The company had a trading volume of 1,352,894 shares, compared to its average volume of 2,145,106. The PNC Financial Services Group has a one year low of $109.40 and a one year high of $162.24. The business has a fifty day simple moving average of $151.80 and a 200 day simple moving average of $141.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $58.80 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group will post 12.42 earnings per share for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 37,008,602 shares of the financial services provider’s stock worth $5,730,782,000 after buying an additional 158,093 shares during the period. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after buying an additional 1,978,854 shares during the period. FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after buying an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after buying an additional 860,489 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 2.4% in the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after buying an additional 171,876 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.