The PNC Financial Services Group (NYSE:PNC) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

The PNC Financial Services Group, Inc (NYSE:PNC)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $229.23 and traded as high as $233.62. The PNC Financial Services Group shares last traded at $231.5190, with a volume of 1,940,397 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNC. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Tuesday, October 13th. Morgan Stanley cut 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 report on Friday, October 16th. Bank of America reduced their target price on shares of The PNC Financial Services Group from $291.00 to $276.00 in a research note on Thursday, October 8th. Robert W. Baird upped their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group lowered their target price on shares of 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. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.04.

The PNC Financial Services Group Stock Performance

The firm has a market capitalization of $92.15 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The stock has a 50-day moving average of $228.09 and a 200 day moving average of $229.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.84.

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, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is 42.58%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently modified their holdings of PNC. Trust Asset Management LLC raised its position in The PNC Financial Services Group by 1.0% in the 2nd quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 43 shares during the last quarter. Francis Financial Inc. boosted its position in The PNC Financial Services Group by 1.7% in the 3rd quarter. Francis Financial Inc. now owns 2,579 shares of the financial services provider’s stock valued at $573,000 after buying an additional 44 shares during the last quarter. Everett Harris & Co. CA boosted its position in The PNC Financial Services Group by 3.3% in the 3rd quarter. Everett Harris & Co. CA now owns 1,535 shares of the financial services provider’s stock valued at $341,000 after buying an additional 49 shares during the last quarter. United Community Bank increased its stake in shares of The PNC Financial Services Group by 0.8% in the 2nd quarter. United Community Bank now owns 6,523 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 50 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of The PNC Financial Services Group by 70.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 121 shares of the financial services provider’s stock valued at $27,000 after buying an additional 50 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.