The PNC Financial Services Group Inc. (PNC) Cut to Neutral at Nomura

The PNC Financial Services Group Inc. (PNC) Cut to Neutral at Nomura

Nomura cut shares of PNC Financial Services Group Inc. (NYSE:PNC) from a buy rating to a neutral rating in a report published on Monday morning. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently commented on the stock. Raymond James Financial Inc. upgraded shares of PNC Financial Services Group from an underperform rating to a market perform rating in a research note on Thursday, October 6th. Vetr cut shares of PNC Financial Services Group from a buy rating to a hold rating and set a $94.63 target price for the company. in a research note on Thursday, October 6th. Credit Agricole SA upped their target price on shares of PNC Financial Services Group from $86.00 to $92.00 and gave the company an underperform rating in a research note on Friday, September 23rd. Bank of America Corp. set a $100.00 target price on shares of PNC Financial Services Group and gave the company a buy rating in a research note on Wednesday, September 7th. Finally, Jefferies Group reiterated a hold rating and set a $94.00 target price (up from $88.00) on shares of PNC Financial Services Group in a research note on Monday, September 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $96.65.

PNC Financial Services Group (NYSE:PNC) opened at 89.83 on Monday. The stock has a 50 day moving average of $89.68 and a 200 day moving average of $86.15. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 12.39 and a beta of 0.91. PNC Financial Services Group has a 12-month low of $77.40 and a 12-month high of $97.50.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The business earned $3.79 billion during the quarter. During the same quarter in the previous year, the firm posted $1.88 earnings per share. PNC Financial Services Group’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that PNC Financial Services Group will post $7.10 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Monday, October 17th will be given a $0.55 dividend. The ex-dividend date is Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.43%. PNC Financial Services Group’s dividend payout ratio is 30.26%.

In related news, insider Michael J. Hannon sold 33,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the completion of the sale, the insider now directly owns 87,573 shares of the company’s stock, valued at approximately $7,574,188.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Hesse bought 500 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were acquired at an average cost of $82.44 per share, with a total value of $41,220.00. Following the completion of the purchase, the director now owns 1,100 shares in the company, valued at approximately $90,684. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Gratus Capital LLC boosted its stake in PNC Financial Services Group by 0.4% in the second quarter. Gratus Capital LLC now owns 4,246 shares of the company’s stock worth $346,000 after buying an additional 19 shares during the last quarter. First Financial Bank N.A. Trust Division boosted its stake in PNC Financial Services Group by 0.5% in the third quarter. First Financial Bank N.A. Trust Division now owns 4,775 shares of the company’s stock worth $431,000 after buying an additional 25 shares during the last quarter. Stewart & Patten Co. LLC boosted its stake in PNC Financial Services Group by 0.5% in the second quarter. Stewart & Patten Co. LLC now owns 6,243 shares of the company’s stock worth $508,000 after buying an additional 33 shares during the last quarter. City Holding Co. boosted its stake in PNC Financial Services Group by 1.2% in the second quarter. City Holding Co. now owns 2,859 shares of the company’s stock worth $233,000 after buying an additional 34 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in PNC Financial Services Group by 1.6% in the second quarter. MCF Advisors LLC now owns 2,238 shares of the company’s stock worth $182,000 after buying an additional 35 shares during the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.

PNC Financial Services Group Company Profile

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