PNC Financial Services Group (NYSE:PNC) Reaches New 12-Month High at $154.75

Shares of PNC Financial Services Group Inc (NYSE:PNC) reached a new 52-week high during trading on Friday . The stock traded as high as $154.75 and last traded at $153.92, with a volume of 25047 shares traded. The stock had previously closed at $152.20.

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of PNC Financial Services Group in a research report on Monday, November 18th. UBS Group lifted their target price on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Zacks Investment Research lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 target price for the company. in a research note on Tuesday, October 1st. Barclays set a $158.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Robert W. Baird set a $141.00 price target on shares of PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $144.17.

The stock has a market cap of $68.48 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The firm’s 50-day moving average is $149.96 and its two-hundred day moving average is $138.96. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.10.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts anticipate that PNC Financial Services Group Inc will post 11.35 earnings per share for the current fiscal year.

In other PNC Financial Services Group news, CEO William S. Demchak sold 129,400 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $152.10, for a total transaction of $19,681,740.00. Following the transaction, the chief executive officer now directly owns 370,790 shares of the company’s stock, valued at $56,397,159. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP E William Parsley III sold 20,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $152.20, for a total transaction of $3,044,000.00. In the last ninety days, insiders sold 191,755 shares of company stock valued at $28,809,522. 0.37% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNC. Brightworth grew its position in shares of PNC Financial Services Group by 4.1% in the second quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 70 shares during the last quarter. City Holding Co. boosted its stake in PNC Financial Services Group by 1.7% during the 3rd quarter. City Holding Co. now owns 4,273 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 72 shares during the period. Canal Capital Management LLC boosted its stake in PNC Financial Services Group by 0.8% during the 3rd quarter. Canal Capital Management LLC now owns 9,278 shares of the financial services provider’s stock valued at $1,300,000 after purchasing an additional 73 shares during the period. SevenBridge Financial Group LLC grew its holdings in PNC Financial Services Group by 0.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 14,576 shares of the financial services provider’s stock valued at $2,043,000 after buying an additional 75 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in PNC Financial Services Group by 1.4% in the 3rd quarter. Trust Co. of Vermont now owns 5,567 shares of the financial services provider’s stock valued at $780,000 after buying an additional 75 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

PNC Financial Services Group Company Profile (NYSE:PNC)

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.

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