The PNC Financial Services Group (NYSE:PNC) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm issued a hold rating and a $245.00 price target on the financial services provider’s stock.

Several other analysts have also commented on the stock. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. HSBC increased their target price on The PNC Financial Services Group from $275.00 to $283.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Citigroup raised their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Barclays lifted their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $270.11.

The PNC Financial Services Group Stock Down 0.2%

Shares of NYSE PNC opened at $219.23 on Thursday. The firm has a fifty day simple moving average of $238.89 and a two-hundred day simple moving average of $232.61. The PNC Financial Services Group has a 12 month low of $176.88 and a 12 month high of $258.96. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $87.46 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $3.85 EPS. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group will post 19.22 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

Insider Buying and Selling 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 that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in The PNC Financial Services Group during the second quarter valued at approximately $2,102,631,000. Nykredit A S bought a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $33,532,000. AMG National Trust Bank bought a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $30,557,000. Amundi increased its stake in The PNC Financial Services Group by 5.2% in the 2nd quarter. Amundi now owns 1,824,741 shares of the financial services provider’s stock worth $449,288,000 after acquiring an additional 90,734 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $69,078,000. 83.53% of the stock is owned by institutional investors.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.

PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.