PNC Financial Services Group (PNC) Earns “Hold” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of PNC Financial Services Group (NYSE:PNC) in a research report report published on Friday. Keefe, Bruyette & Woods currently has a $162.00 price target on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued a buy rating on shares of PNC Financial Services Group in a research report on Monday, October 16th. Credit Suisse Group boosted their target price on PNC Financial Services Group from $135.00 to $137.00 and gave the company a neutral rating in a research report on Monday, October 16th. Zacks Investment Research raised PNC Financial Services Group from a hold rating to a buy rating and set a $154.00 target price on the stock in a research report on Tuesday, October 31st. Instinet reissued a neutral rating and issued a $132.00 target price (up previously from $129.00) on shares of PNC Financial Services Group in a research report on Saturday, September 30th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $134.00 target price on shares of PNC Financial Services Group in a research report on Wednesday, October 4th. Sixteen research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $138.48.

PNC Financial Services Group (NYSE PNC) opened at $146.12 on Friday. The stock has a market capitalization of $69,460.00, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92. PNC Financial Services Group has a 52 week low of $113.66 and a 52 week high of $147.28.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.03. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. analysts forecast that PNC Financial Services Group will post 8.44 earnings per share for the current fiscal year.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Q. Reilly sold 19,576 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the transaction, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,523 shares of company stock valued at $15,392,168. Insiders own 0.43% of the company’s stock.

Several hedge funds have recently modified their holdings of PNC. Deroy & Devereaux Private Investment Counsel Inc. grew its position in PNC Financial Services Group by 1.0% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 145,518 shares of the financial services provider’s stock valued at $18,171,000 after purchasing an additional 1,428 shares in the last quarter. CIBC Asset Management Inc increased its holdings in PNC Financial Services Group by 2.1% in the 2nd quarter. CIBC Asset Management Inc now owns 63,214 shares of the financial services provider’s stock valued at $7,894,000 after buying an additional 1,287 shares during the period. CAPROCK Group Inc. increased its holdings in PNC Financial Services Group by 16.9% in the 2nd quarter. CAPROCK Group Inc. now owns 4,794 shares of the financial services provider’s stock valued at $599,000 after buying an additional 693 shares during the period. Telos Capital Management Inc. increased its holdings in PNC Financial Services Group by 1.2% in the 2nd quarter. Telos Capital Management Inc. now owns 17,290 shares of the financial services provider’s stock valued at $2,159,000 after buying an additional 202 shares during the period. Finally, Peoples Bank OH increased its holdings in PNC Financial Services Group by 2.7% in the 2nd quarter. Peoples Bank OH now owns 1,894 shares of the financial services provider’s stock valued at $237,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 81.48% of the company’s stock.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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