PNC Financial Services Group’s (PNC) Hold Rating Reaffirmed at Credit Suisse Group

PNC Financial Services Group (NYSE:PNC)‘s stock had its “hold” rating reiterated by equities researchers at Credit Suisse Group in a note issued to investors on Friday. They presently have a $150.00 price target on the financial services provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 3.73% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Goldman Sachs Group cut PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday. Barclays raised their price target on PNC Financial Services Group from $139.00 to $168.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and set a $162.00 price target on shares of PNC Financial Services Group in a report on Friday, December 29th. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Tuesday, December 26th. Finally, Wells Fargo & Co set a $149.00 price target on PNC Financial Services Group and gave the company a “hold” rating in a report on Wednesday, December 20th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $141.08.

PNC Financial Services Group (PNC) opened at $144.60 on Friday. The firm has a market capitalization of $68,800.00, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.74 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. PNC Financial Services Group has a 1-year low of $113.66 and a 1-year high of $147.28.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. equities research analysts expect that PNC Financial Services Group will post 8.44 earnings per share for the current fiscal year.

In other news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the transaction, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,523 shares of company stock valued at $15,392,168. Company insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its holdings in PNC Financial Services Group by 0.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 4 shares during the period. Hudock Capital Group LLC boosted its holdings in PNC Financial Services Group by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 11 shares during the period. Green Square Capital LLC boosted its holdings in PNC Financial Services Group by 0.4% during the 2nd quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 18 shares during the period. First Interstate Bank boosted its holdings in PNC Financial Services Group by 2.6% during the 2nd quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 25 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in PNC Financial Services Group by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 46 shares during the period. Institutional investors own 81.48% of the company’s stock.

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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.

Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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