Today, PNC Financial Services Group Inc. (PNC) Raised to Buy at Vetr Inc.

Today, PNC Financial Services Group Inc. (PNC) Raised to Buy at Vetr Inc.

Vetr upgraded shares of PNC Financial Services Group Inc. (NYSE:PNC) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Vetr currently has $94.63 price target on the stock.

PNC has been the topic of several other research reports. Deutsche Bank AG reissued a buy rating on shares of PNC Financial Services Group in a research report on Wednesday, June 29th. Jefferies Group reaffirmed a hold rating and issued a $91.00 price objective on shares of PNC Financial Services Group in a report on Thursday, July 7th. Nomura downgraded shares of PNC Financial Services Group from a buy rating to a neutral rating in a report on Monday, October 10th. They noted that the move was a valuation call. BMO Capital Markets raised shares of PNC Financial Services Group from a market perform rating to an outperform rating and upped their price objective for the company from $94.00 to $101.00 in a report on Monday, September 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a hold rating to a sell rating in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. PNC Financial Services Group has a consensus rating of Hold and an average price target of $96.65.

PNC Financial Services Group (NYSE:PNC) opened at 88.03 on Wednesday. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $97.50. The stock has a market capitalization of $43.26 billion, a PE ratio of 12.14 and a beta of 0.91. The company’s 50-day moving average is $89.80 and its 200 day moving average is $86.19.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.06. The company had revenue of $3.83 billion for the quarter. PNC Financial Services Group had a net margin of 23.77% and a return on equity of 8.92%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. Equities analysts predict that PNC Financial Services Group will post $7.10 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Monday, October 17th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 13th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 30.51%.

In other PNC Financial Services Group news, Director Daniel Hesse purchased 500 shares of PNC Financial Services Group stock in a transaction dated Thursday, July 21st. The shares were acquired at an average price of $82.44 per share, with a total value of $41,220.00. Following the completion of the transaction, the director now owns 1,100 shares of the company’s stock, valued at $90,684. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 33,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 87,573 shares in the company, valued at approximately $7,574,188.77. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Several hedge funds have recently modified their holdings of PNC. Emerald Acquisition Ltd. acquired a new stake in shares of PNC Financial Services Group during the second quarter valued at about $126,658,000. Massachusetts Financial Services Co. MA boosted its stake in shares of PNC Financial Services Group by 22.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,709,313 shares of the company’s stock valued at $627,462,000 after buying an additional 1,395,872 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of PNC Financial Services Group by 1,098.6% in the second quarter. Cohen & Steers Inc. now owns 1,371,150 shares of the company’s stock valued at $156,339,000 after buying an additional 1,256,750 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of PNC Financial Services Group during the second quarter valued at about $78,133,000. Finally, American Century Companies Inc. boosted its stake in shares of PNC Financial Services Group by 15.6% in the second quarter. American Century Companies Inc. now owns 6,655,625 shares of the company’s stock valued at $541,701,000 after buying an additional 897,284 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

About PNC Financial Services Group

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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