The PNC Financial Services Group (NYSE:PNC) Stock Crosses Above 200-Day Moving Average – Time to Sell?

The PNC Financial Services Group, Inc (NYSE:PNC)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $228.82 and traded as high as $233.10. The PNC Financial Services Group shares last traded at $231.7810, with a volume of 1,882,171 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Morgan Stanley reduced their price objective on The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Citigroup decreased their target price on The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd. Finally, Wolfe Research assumed coverage on shares of The PNC Financial Services Group in a report on Tuesday. They issued a “peer perform” rating on the stock. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.17.

The PNC Financial Services Group Trading Down 1.7%

The firm’s 50 day moving average is $230.03 and its 200 day moving average is $228.88. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $90.91 billion, a PE ratio of 12.13, a PEG ratio of 1.20 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the business posted $4.35 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently modified their holdings of the company. Highland Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the second quarter worth about $28,000. Archer Investment Corp purchased a new stake in The PNC Financial Services Group during the second quarter worth about $33,000. Wilkerson Advisory Group LLC boosted its holdings in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new position in The PNC Financial Services Group during the second quarter worth about $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.