PNC Financial Services Group (PNC) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reiterated their hold rating on shares of PNC Financial Services Group (NYSE:PNC) in a report issued on Tuesday morning. Oppenheimer also issued estimates for PNC Financial Services Group’s Q1 2018 earnings at $2.28 EPS, Q2 2018 earnings at $2.58 EPS, Q3 2018 earnings at $2.64 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $10.30 EPS and FY2019 earnings at $11.67 EPS.

A number of other analysts also recently issued reports on PNC. Nomura raised their price target on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the company a neutral rating in a report on Thursday, September 28th. Wells Fargo & Co set a $157.00 price target on shares of PNC Financial Services Group and gave the company a hold rating in a report on Tuesday. Robert W. Baird reaffirmed a buy rating and set a $135.00 price target on shares of PNC Financial Services Group in a report on Sunday, October 1st. Piper Jaffray Companies raised their price target on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company an overweight rating in a report on Monday, October 16th. Finally, Royal Bank of Canada reaffirmed a buy rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $144.02.

Shares of PNC Financial Services Group (PNC) traded up $1.54 during midday trading on Tuesday, hitting $155.25. 2,735,639 shares of the stock were exchanged, compared to its average volume of 2,622,931. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $73,870.00, a P/E ratio of 14.88, a PEG ratio of 1.47 and a beta of 0.90. PNC Financial Services Group has a 12-month low of $115.25 and a 12-month high of $156.15.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.97 EPS. equities research analysts forecast that PNC Financial Services Group will post 10.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.76%.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the sale, the insider now owns 20,449 shares in the company, valued at approximately $2,801,104.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $138.85, for a total transaction of $625,519.25. The disclosure for this sale can be found here. Insiders sold a total of 103,523 shares of company stock worth $14,717,168 in the last quarter. Company insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in PNC Financial Services Group by 217.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 184,620 shares of the financial services provider’s stock worth $24,901,000 after acquiring an additional 126,480 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in PNC Financial Services Group by 20.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 1,235 shares during the period. California Public Employees Retirement System raised its stake in PNC Financial Services Group by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,407,491 shares of the financial services provider’s stock worth $189,688,000 after acquiring an additional 22,434 shares during the period. Davis Selected Advisers raised its stake in PNC Financial Services Group by 1.7% during the 2nd quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock worth $38,380,000 after acquiring an additional 5,262 shares during the period. Finally, AXA raised its stake in PNC Financial Services Group by 2.1% during the 3rd quarter. AXA now owns 337,039 shares of the financial services provider’s stock worth $45,423,000 after acquiring an additional 6,903 shares during the period. Institutional investors own 81.54% of the company’s stock.

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PNC Financial Services Group Company Profile

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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