The PNC Financial Services Group Inc. (PNC) Rating Increased to Outperform at Macquarie

The PNC Financial Services Group Inc. (PNC) Rating Increased to Outperform at Macquarie

PNC Financial Services Group Inc. (NYSE:PNC) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday.

PNC has been the subject of a number of other reports. BMO Capital Markets upgraded 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 research note on Monday, September 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 22nd. Vetr lowered PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $95.48 target price on the stock. in a research report on Thursday, October 20th. Argus raised PNC Financial Services Group from a “hold” rating to a “buy” rating and upped their target price for the company from $88.03 to $98.00 in a research report on Monday, October 17th. Finally, Keefe, Bruyette & Woods lowered PNC Financial Services Group from an “outperform” rating to a “market perform” rating and upped their target price for the company from $98.00 to $114.00 in a research report on Tuesday, November 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $100.79.

PNC Financial Services Group (NYSE:PNC) opened at 116.32 on Tuesday. The firm has a 50-day moving average price of $115.97 and a 200 day moving average price of $96.80. PNC Financial Services Group has a 12 month low of $77.40 and a 12 month high of $121.33. The stock has a market capitalization of $56.42 billion, a PE ratio of 15.93 and a beta of 0.89.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 13th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. The firm earned $3.83 billion during the quarter. PNC Financial Services Group had a return on equity of 8.96% and a net margin of 23.90%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 earnings per share. Equities analysts anticipate that PNC Financial Services Group will post $7.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Investors of record on Tuesday, January 17th will be issued a $0.55 dividend. The ex-dividend date is Thursday, January 12th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. PNC Financial Services Group’s dividend payout ratio is presently 30.10%.

In related news, CEO William S. Demchak sold 82,500 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $95.31, for a total value of $7,863,075.00. Following the completion of the sale, the chief executive officer now owns 476,255 shares of the company’s stock, valued at $45,391,864.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph E. Rockey sold 16,400 shares of the stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $92.93, for a total value of $1,524,052.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Wright Investors Service Inc. boosted its stake in PNC Financial Services Group by 3.6% in the second quarter. Wright Investors Service Inc. now owns 9,907 shares of the company’s stock valued at $806,000 after buying an additional 346 shares in the last quarter. Cincinnati Financial Corp boosted its stake in PNC Financial Services Group by 14.3% in the second quarter. Cincinnati Financial Corp now owns 473,000 shares of the company’s stock valued at $38,497,000 after buying an additional 59,000 shares in the last quarter. Bank of Montreal Can boosted its stake in PNC Financial Services Group by 31.5% in the third quarter. Bank of Montreal Can now owns 1,262,470 shares of the company’s stock valued at $113,735,000 after buying an additional 302,487 shares in the last quarter. Huntington National Bank boosted its stake in PNC Financial Services Group by 14.6% in the second quarter. Huntington National Bank now owns 275,683 shares of the company’s stock valued at $22,438,000 after buying an additional 35,206 shares in the last quarter. Finally, BOKF NA boosted its stake in PNC Financial Services Group by 14.4% in the third quarter. BOKF NA now owns 60,205 shares of the company’s stock valued at $5,424,000 after buying an additional 7,601 shares in the last quarter. 80.86% of the stock is owned by hedge funds and other 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.

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