The PNC Financial Services Group (NYSE:PNC) Downgraded by StockNews.com

StockNews.com cut shares of The PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

PNC has been the subject of several other research reports. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an underweight rating in a research report on Tuesday, January 30th. Evercore ISI lowered their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an outperform rating for the company in a report on Wednesday, April 17th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an overweight rating in a report on Thursday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a reduce rating to a hold rating and raised their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of Hold and an average target price of $157.02.

The PNC Financial Services Group Price Performance

PNC stock opened at $152.77 on Tuesday. The PNC Financial Services Group has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $155.84 and a two-hundred day simple moving average of $148.62. The firm has a market capitalization of $60.79 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 3.06 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Private Advisor Group LLC increased its stake in The PNC Financial Services Group by 13.9% during the 3rd quarter. Private Advisor Group LLC now owns 57,866 shares of the financial services provider’s stock valued at $7,104,000 after purchasing an additional 7,082 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in The PNC Financial Services Group by 5.1% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,332 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 114 shares in the last quarter. Larson Financial Group LLC increased its stake in The PNC Financial Services Group by 10.8% during the 3rd quarter. Larson Financial Group LLC now owns 9,630 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 939 shares in the last quarter. MGO One Seven LLC increased its stake in The PNC Financial Services Group by 12.5% during the 3rd quarter. MGO One Seven LLC now owns 19,664 shares of the financial services provider’s stock valued at $2,414,000 after purchasing an additional 2,189 shares in the last quarter. Finally, D.B. Root & Company LLC increased its stake in The PNC Financial Services Group by 3.6% during the 3rd quarter. D.B. Root & Company LLC now owns 9,250 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.