PNC Financial Services Group Inc. (NYSE:PNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “We remain encouraged by PNC Financial's efforts to generate positive operating leverage through its cost saving initiatives. Notably, management projects net interest income and fee revenue to remain stable on a sequential basis in the fourth quarter. Also, we remain optimistic as the bank remains well positioned for top-line growth, supported by consistent growth in loans and deposits and fee income. However, margin compression is expected to persist in absence of significant rise in interest rate. Further, escalating costs stemming from legal hassles and stringent regulatory requirements remain near-term headwinds to the company’s profitability and flexibility in business operations.”

A number of other equities research analysts have also recently commented on the company. Vetr cut PNC Financial Services Group from a “sell” rating to a “strong sell” rating and set a $95.30 price objective for the company. in a research note on Tuesday, November 15th. RBC Capital Markets reaffirmed a “buy” rating and set a $95.00 price objective on shares of PNC Financial Services Group in a research note on Thursday, November 3rd. Argus raised PNC Financial Services Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $88.03 to $98.00 in a research note on Monday, October 17th. Barclays PLC reaffirmed a “hold” rating and set a $97.00 price objective on shares of PNC Financial Services Group in a research note on Tuesday, October 11th. Finally, Nomura cut PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.20.

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

Shares of PNC Financial Services Group (NYSE:PNC) opened at 112.07 on Thursday. The stock’s 50 day moving average price is $98.27 and its 200-day moving average price is $89.18. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $112.07. The stock has a market capitalization of $54.52 billion, a P/E ratio of 15.58 and a beta of 0.82.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 14th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.06. The company earned $3.83 billion during the quarter. PNC Financial Services Group had a return on equity of 9.04% and a net margin of 23.77%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. Equities research analysts anticipate that PNC Financial Services Group will post $7.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 17th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Thursday, October 13th. PNC Financial Services Group’s payout ratio is 30.51%.

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In related news, insider Joseph E. Rockey sold 16,400 shares of the stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $92.93, for a total transaction of $1,524,052.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 179,809 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $107.61, for a total value of $19,349,246.49. Following 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. 0.57% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of PNC. Svenska Handelsbanken AB publ bought a new stake in shares of PNC Financial Services Group during the second quarter worth about $9,921,000. Perkins Coie Trust Co increased its stake in shares of PNC Financial Services Group by 6.9% in the second quarter. Perkins Coie Trust Co now owns 22,096 shares of the company’s stock worth $1,798,000 after buying an additional 1,423 shares in the last quarter. Trust Co increased its stake in shares of PNC Financial Services Group by 7.0% in the first quarter. Trust Co now owns 11,147 shares of the company’s stock worth $943,000 after buying an additional 732 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of PNC Financial Services Group by 5.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 129,250 shares of the company’s stock worth $10,520,000 after buying an additional 7,243 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in shares of PNC Financial Services Group by 2.2% in the second quarter. DNB Asset Management AS now owns 46,055 shares of the company’s stock worth $3,748,000 after buying an additional 1,000 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.

PNC Financial Services Group Company Profile

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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