Today: The Vetr Inc. Downgrades PNC Financial Services Group Inc. (PNC) to Hold

The Vetr Inc. Downgrades PNC Financial Services Group Inc. (PNC) to Hold

PNC Financial Services Group Inc. (NYSE:PNC) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Thursday. They currently have a $94.63 price objective on the stock. Vetr‘s price target suggests a potential upside of 3.51% from the stock’s previous close.

Several other analysts also recently commented on the stock. Jefferies Group reissued a “hold” rating and issued a $94.00 target price (up from $88.00) on shares of PNC Financial Services Group in a research report on Monday, September 26th. Credit Agricole SA upped their price objective on shares of PNC Financial Services Group from $86.00 to $92.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. 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 stock from $94.00 to $101.00 in a report on Monday, September 19th. They noted that the move was a valuation call. Bank of America Corp. set a $100.00 price objective on shares of PNC Financial Services Group and gave the stock a “buy” rating in a report on Wednesday, September 7th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $96.00 price objective on shares of PNC Financial Services Group in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $96.65.

PNC Financial Services Group (NYSE:PNC) opened at 91.42 on Thursday. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 12.61 and a beta of 0.91. The stock has a 50 day moving average of $89.22 and a 200 day moving average of $86.03. 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 posted its earnings results on Friday, July 15th. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.07. The company earned $3.79 billion during the quarter. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. Equities research analysts anticipate that PNC Financial Services Group will post $7.10 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Monday, October 17th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, October 13th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 30.26%.

In other PNC Financial Services Group news, Director Daniel Hesse bought 500 shares of PNC Financial Services Group stock in a transaction dated Thursday, July 21st. The shares were bought at an average price of $82.44 per share, with a total value of $41,220.00. Following the purchase, the director now owns 1,100 shares of the company’s stock, valued at $90,684. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Hannon sold 33,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the completion of the transaction, 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. 0.57% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PNC. RNC Capital Management LLC raised its position in shares of PNC Financial Services Group by 0.5% in the second quarter. RNC Capital Management LLC now owns 222,243 shares of the company’s stock valued at $18,088,000 after buying an additional 1,150 shares during the period. AMP Capital Investors Ltd raised its position in shares of PNC Financial Services Group by 12.8% in the first quarter. AMP Capital Investors Ltd now owns 415,678 shares of the company’s stock valued at $35,477,000 after buying an additional 47,014 shares during the period. Suntrust Banks Inc. raised its position in PNC Financial Services Group by 0.3% in the second quarter. Suntrust Banks Inc. now owns 471,355 shares of the company’s stock valued at $38,362,000 after buying an additional 1,600 shares during the last quarter. Natixis purchased a new position in PNC Financial Services Group during the first quarter valued at $46,162,000. Finally, Dana Investment Advisors Inc. raised its position in PNC Financial Services Group by 3.6% in the second quarter. Dana Investment Advisors Inc. now owns 154,793 shares of the company’s stock valued at $12,599,000 after buying an additional 5,362 shares during the last quarter. 80.21% of the stock is currently owned by institutional investors.

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.

Related posts

Leave a Comment