PNC Financial Services Group Inc. (NYSE:PNC) was downgraded by equities researchers at Nomura from a “buy” rating to a “neutral” rating in a research report issued on Monday. The analysts noted that the move was a valuation call.

Other analysts also recently issued reports about the company. 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 report on Monday, September 19th. They noted that the move was a valuation call. Jefferies Group restated a “hold” rating and set a $94.00 price objective (up from $88.00) on shares of PNC Financial Services Group in a report on Monday, September 26th. Vetr downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $94.63 price objective for the company. in a report on Thursday. Raymond James Financial Inc. upgraded PNC Financial Services Group from an “underperform” rating to a “market perform” rating in a report on Thursday. Finally, Credit Suisse Group AG restated a “hold” rating on shares of PNC Financial Services Group in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $96.65.

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

Shares of PNC Financial Services Group (NYSE:PNC) traded up 0.025% during mid-day trading on Monday, reaching $91.443. The company’s stock had a trading volume of 660,899 shares. The firm has a 50-day moving average of $89.22 and a 200-day moving average of $86.03. PNC Financial Services Group has a 52 week low of $77.40 and a 52 week high of $97.50. The firm has a market capitalization of $44.94 billion, a PE ratio of 12.615 and a beta of 0.91.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. PNC Financial Services Group had a return on equity of 9.22% and a net margin of 24.32%. The company had revenue of $3.79 billion for the quarter. During the same period in the prior year, the company earned $1.88 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts forecast that PNC Financial Services Group will post $7.10 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Monday, October 17th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.41%. PNC Financial Services Group’s dividend payout ratio is presently 30.26%.

In related news, Director Daniel Hesse acquired 500 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were acquired at an average price of $82.44 per share, for a total transaction of $41,220.00. Following the completion of the purchase, the director now directly owns 1,100 shares of the company’s stock, valued at $90,684. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 33,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 87,573 shares in the company, valued at approximately $7,574,188.77. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iowa State Bank acquired a new position in PNC Financial Services Group during the second quarter valued at about $114,000. Barrett Asset Management LLC raised its position in PNC Financial Services Group by 162.3% in the second quarter. Barrett Asset Management LLC now owns 1,705 shares of the company’s stock valued at $139,000 after buying an additional 1,055 shares during the period. Enterprise Financial Services Corp raised its position in PNC Financial Services Group 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. M&R Capital Management Inc. acquired a new position in PNC Financial Services Group during the second quarter valued at about $146,000. Finally, NEXT Financial Group Inc raised its position in PNC Financial Services Group by 42.8% in the second quarter. NEXT Financial Group Inc now owns 2,006 shares of the company’s stock valued at $163,000 after buying an additional 601 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

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.

5 Day Chart for NYSE:PNC

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