PNC Financial Services Group (NYSE:PNC) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of PNC Financial Services Group (NYSE:PNC) from a hold rating to a sell rating in a report published on Tuesday, ValuEngine reports.

Several other brokerages have also issued reports on PNC. Wells Fargo & Co upped their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the company a market perform rating in a research note on Thursday, October 17th. Zacks Investment Research lowered PNC Financial Services Group from a hold rating to a sell rating and set a $147.00 price objective for the company. in a research report on Tuesday, October 1st. Morgan Stanley reissued a hold rating on shares of PNC Financial Services Group in a report on Monday, November 18th. Barclays set a $158.00 target price on shares of PNC Financial Services Group and gave the company a hold rating in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $141.00 target price on shares of PNC Financial Services Group and gave the company a buy rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $144.17.

NYSE:PNC opened at $149.74 on Tuesday. The stock’s fifty day moving average price is $149.29 and its two-hundred day moving average price is $138.64. PNC Financial Services Group has a 52-week low of $108.45 and a 52-week high of $154.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $68.22 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.85 and a beta of 1.14.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.14. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 EPS. On average, equities analysts predict that PNC Financial Services Group will post 11.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th were given a $1.15 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.07%. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

In related news, EVP Karen L. Larrimer sold 2,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $152.29, for a total value of $304,580.00. Following the completion of the sale, the executive vice president now owns 21,172 shares in the company, valued at $3,224,283.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vicki C. Henn sold 3,723 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $151.96, for a total value of $565,747.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,755 shares of company stock valued at $25,765,522. 0.37% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PNC. Westside Investment Management Inc. bought a new stake in PNC Financial Services Group in the second quarter valued at approximately $29,000. Liberty Wealth Management LLC raised its holdings in PNC Financial Services Group by 112.8% in the third quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 123 shares during the period. Venturi Wealth Management LLC bought a new position in shares of PNC Financial Services Group during the third quarter worth $37,000. Redhawk Wealth Advisors Inc. bought a new position in shares of PNC Financial Services Group during the second quarter worth $40,000. Finally, Old North State Trust LLC boosted its position in shares of PNC Financial Services Group by 108.8% during the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Further Reading: Leveraged Buyout (LBO) Explained

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

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