PNC Financial Services Group, Inc. (The) (PNC) Upgraded at Goldman Sachs Group, Inc. (The), Report finds

PNC Financial Services Group, Inc. (The) (PNC) Upgraded at Goldman Sachs Group, Inc. (The), Report finds

PNC Financial Services Group, Inc. (The) (NYSE:PNC) was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “conviction-buy” rating in a research report issued on Wednesday.

Several other research firms have also recently issued reports on PNC. Argus upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.03 to $98.00 in a research note on Monday, October 17th. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, October 18th. Barclays PLC boosted their target price on shares of PNC Financial Services Group, Inc. (The) from $97.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Credit Suisse Group reiterated a “hold” rating and issued a $112.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Finally, Macquarie upgraded shares of PNC Financial Services Group, Inc. (The) from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.62.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded down 0.01% during trading on Wednesday, hitting $121.46. 2,892,366 shares of the company’s stock were exchanged. The company has a 50-day moving average of $118.86 and a 200-day moving average of $100.89. The company has a market cap of $58.91 billion, a P/E ratio of 16.64 and a beta of 0.91. PNC Financial Services Group, Inc. has a 12-month low of $77.40 and a 12-month high of $123.25.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, January 13th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. The business had revenue of $3.83 billion for the quarter. PNC Financial Services Group, Inc. (The) had a net margin of 23.90% and a return on equity of 8.96%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $7.90 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, January 12th. PNC Financial Services Group, Inc. (The)’s payout ratio is 30.10%.

In related news, insider Wyk Steven C. Van sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $116.85, for a total value of $116,850.00. Following the sale, the insider now owns 17,529 shares of the company’s stock, valued at $2,048,263.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 179,809 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the completion of the sale, the chief executive officer now directly owns 531,755 shares in the company, valued at approximately $57,222,155.55. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Essex Financial Services Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 0.8% in the second quarter. Essex Financial Services Inc. now owns 10,397 shares of the company’s stock valued at $846,000 after buying an additional 85 shares during the period. Concert Wealth Management Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.5% in the second quarter. Concert Wealth Management Inc. now owns 3,660 shares of the company’s stock valued at $295,000 after buying an additional 53 shares during the period. Bridge Creek Capital Management LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 20.7% in the second quarter. Bridge Creek Capital Management LLC now owns 20,105 shares of the company’s stock valued at $1,636,000 after buying an additional 3,445 shares during the period. Enterprise Financial Services Corp boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 5.8% in the second quarter. Enterprise Financial Services Corp now owns 1,797 shares of the company’s stock valued at $146,000 after buying an additional 99 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the second quarter. Nordea Investment Management AB now owns 23,196 shares of the company’s stock valued at $1,888,000 after buying an additional 388 shares during the period. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

About PNC Financial Services Group, Inc. (The)

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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PNC Financial Services Group, Inc. (The) (PNC) Upgraded at Goldman Sachs Group, Inc. (The)

PNC Financial Services Group, Inc. (The) (PNC) Upgraded at Goldman Sachs Group, Inc. (The)

PNC Financial Services Group, Inc. (The) (NYSE:PNC) was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “conviction-buy” rating in a research report issued on Wednesday.

Several other research firms have also recently issued reports on PNC. Argus upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.03 to $98.00 in a research note on Monday, October 17th. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, October 18th. Barclays PLC boosted their target price on shares of PNC Financial Services Group, Inc. (The) from $97.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Credit Suisse Group reiterated a “hold” rating and issued a $112.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Finally, Macquarie upgraded shares of PNC Financial Services Group, Inc. (The) from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.62.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded down 0.01% during trading on Wednesday, hitting $121.46. 2,892,366 shares of the company’s stock were exchanged. The company has a 50-day moving average of $118.86 and a 200-day moving average of $100.89. The company has a market cap of $58.91 billion, a P/E ratio of 16.64 and a beta of 0.91. PNC Financial Services Group, Inc. has a 12-month low of $77.40 and a 12-month high of $123.25.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, January 13th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. The business had revenue of $3.83 billion for the quarter. PNC Financial Services Group, Inc. (The) had a net margin of 23.90% and a return on equity of 8.96%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $7.90 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, January 12th. PNC Financial Services Group, Inc. (The)’s payout ratio is 30.10%.

In related news, insider Wyk Steven C. Van sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $116.85, for a total value of $116,850.00. Following the sale, the insider now owns 17,529 shares of the company’s stock, valued at $2,048,263.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 179,809 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the completion of the sale, the chief executive officer now directly owns 531,755 shares in the company, valued at approximately $57,222,155.55. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Essex Financial Services Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 0.8% in the second quarter. Essex Financial Services Inc. now owns 10,397 shares of the company’s stock valued at $846,000 after buying an additional 85 shares during the period. Concert Wealth Management Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.5% in the second quarter. Concert Wealth Management Inc. now owns 3,660 shares of the company’s stock valued at $295,000 after buying an additional 53 shares during the period. Bridge Creek Capital Management LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 20.7% in the second quarter. Bridge Creek Capital Management LLC now owns 20,105 shares of the company’s stock valued at $1,636,000 after buying an additional 3,445 shares during the period. Enterprise Financial Services Corp boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 5.8% in the second quarter. Enterprise Financial Services Corp now owns 1,797 shares of the company’s stock valued at $146,000 after buying an additional 99 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the second quarter. Nordea Investment Management AB now owns 23,196 shares of the company’s stock valued at $1,888,000 after buying an additional 388 shares during the period. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

About PNC Financial Services Group, Inc. (The)

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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