PNC Financial Services Group (NYSE:PNC) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report issued on Monday, Marketbeat reports. The brokerage currently has a $145.00 price objective on the financial services provider’s stock, down from their previous price objective of $158.00. Sanford C. Bernstein’s price target points to a potential upside of 16.14% from the company’s current price.
Other equities analysts also recently issued reports about the company. Vining Sparks reissued a “buy” rating and issued a $160.00 target price on shares of PNC Financial Services Group in a research report on Tuesday, October 9th. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $154.62.
Shares of PNC opened at $124.85 on Monday. PNC Financial Services Group has a 12 month low of $121.61 and a 12 month high of $163.59. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.16. The firm has a market cap of $63.23 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the business posted $2.16 EPS. Analysts forecast that PNC Financial Services Group will post 10.71 earnings per share for the current year.
In other PNC Financial Services Group news, insider Michael P. Lyons sold 14,000 shares of the stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $140.87, for a total transaction of $1,972,180.00. Following the sale, the insider now directly owns 124,841 shares of the company’s stock, valued at approximately $17,586,351.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $3,471,507.90. Following the sale, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First American Bank acquired a new stake in PNC Financial Services Group during the 3rd quarter worth about $10,115,000. Nisa Investment Advisors LLC grew its position in PNC Financial Services Group by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 218,931 shares of the financial services provider’s stock worth $29,816,000 after purchasing an additional 6,150 shares during the period. Raymond James Trust N.A. grew its position in PNC Financial Services Group by 2.0% during the 3rd quarter. Raymond James Trust N.A. now owns 32,085 shares of the financial services provider’s stock worth $4,370,000 after purchasing an additional 619 shares during the period. First Hawaiian Bank acquired a new stake in PNC Financial Services Group during the 3rd quarter worth about $457,000. Finally, State of New Jersey Common Pension Fund D grew its position in PNC Financial Services Group by 0.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 688,031 shares of the financial services provider’s stock worth $93,703,000 after purchasing an additional 6,000 shares during the period. 79.83% of the stock is currently owned by institutional investors.
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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