PNC Financial Services Group’s (PNC) Hold Rating Reaffirmed at Credit Suisse Group
Credit Suisse Group reiterated their hold rating on shares of PNC Financial Services Group (NYSE:PNC) in a research note published on Friday. Credit Suisse Group currently has a $150.00 price target on the financial services provider’s stock.
A number of other analysts also recently issued reports on PNC. Zacks Investment Research downgraded PNC Financial Services Group from a buy rating to a hold rating in a research note on Tuesday, September 12th. Deutsche Bank reaffirmed a hold rating and issued a $136.00 target price (up from $130.00) on shares of PNC Financial Services Group in a research note on Tuesday, September 26th. Nomura raised their target price on PNC Financial Services Group from $129.00 to $132.00 and gave the stock a neutral rating in a research note on Thursday, September 28th. Instinet reaffirmed a neutral rating and issued a $132.00 target price (up from $129.00) on shares of PNC Financial Services Group in a research note on Saturday, September 30th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $135.00 target price on shares of PNC Financial Services Group in a research note on Sunday, October 1st. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $141.08.
Shares of PNC Financial Services Group (PNC) traded up $0.27 during mid-day trading on Friday, reaching $145.05. The company’s stock had a trading volume of 2,564,879 shares, compared to its average volume of 2,636,936. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market cap of $69,160.00, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.72 and a beta of 0.90. PNC Financial Services Group has a 12 month low of $113.66 and a 12 month high of $147.28.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. equities research analysts predict that PNC Financial Services Group will post 8.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 22.53%.
In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The disclosure for this sale can be found here. Insiders have sold a total of 108,523 shares of company stock valued at $15,392,168 over the last three months. Corporate insiders own 0.43% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Washington Trust Bank boosted its holdings in PNC Financial Services Group by 2.9% during the 4th quarter. Washington Trust Bank now owns 54,958 shares of the financial services provider’s stock valued at $7,930,000 after acquiring an additional 1,538 shares during the period. AXA boosted its holdings in PNC Financial Services Group by 2.1% during the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock valued at $45,423,000 after acquiring an additional 6,903 shares during the period. Wagner Bowman Management Corp boosted its holdings in PNC Financial Services Group by 16.7% during the 3rd quarter. Wagner Bowman Management Corp now owns 2,993 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 428 shares during the period. Shelton Capital Management boosted its holdings in PNC Financial Services Group by 5.6% during the 3rd quarter. Shelton Capital Management now owns 21,881 shares of the financial services provider’s stock valued at $2,949,000 after acquiring an additional 1,160 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in PNC Financial Services Group during the 3rd quarter valued at about $504,000. 81.49% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This news story was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.watchlistnews.com/pnc-financial-services-groups-pnc-hold-rating-reaffirmed-at-credit-suisse-group/1798811.html.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with Analyst Ratings Network's FREE daily email newsletter.