PNC Financial Services Group, Inc. (The) (NYSE:PNC) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) from a buy rating to a hold rating in a report published on Monday, October 30th.

According to Zacks, “Shares of PNC Financial have outperformed the industry, so far, this year. The performance has been supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. The company’s third-quarter 2017 earnings benefited from higher revenues.  Higher net interest income and non-interest income were witnessed, partly offset by elevated expenses. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost-saving initiatives. Its deal to acquire the commercial and vendor finance business of ECN Capital is anticipated to be marginally accretive to earnings in 2017. However, the company’s capital deployment activities do not seem sustainable. Also, a stretched valuation reflects limited upside potential.”

A number of other brokerages have also recently weighed in on PNC. UBS AG lifted their price target on shares of PNC Financial Services Group, Inc. (The) from $133.00 to $135.00 and gave the stock a neutral rating in a research report on Monday, October 16th. Wells Fargo & Company set a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) and gave the company a hold rating in a research report on Thursday, October 19th. Royal Bank Of Canada boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $130.00 to $145.00 and gave the company a top pick rating in a report on Monday, October 16th. BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a report on Saturday, August 12th. Finally, Piper Jaffray Companies upped their price target on shares of PNC Financial Services Group, Inc. (The) from $134.00 to $147.00 and gave the stock an overweight rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $133.99.

Shares of PNC Financial Services Group, Inc. (PNC) traded down $0.07 during trading on Monday, hitting $132.48. 1,923,761 shares of the company were exchanged, compared to its average volume of 1,601,804. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group, Inc. has a fifty-two week low of $104.78 and a fifty-two week high of $139.23. The firm has a market capitalization of $63,067.43, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.77 and a beta of 0.91.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. equities analysts anticipate that PNC Financial Services Group, Inc. will post 8.43 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 36.63%.

In related news, insider Orlando C. Esposito sold 4,505 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $138.85, for a total transaction of $625,519.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Insiders have sold 12,640 shares of company stock worth $1,729,952 over the last three months. 0.43% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Guardian Life Insurance Co. of America increased its holdings in PNC Financial Services Group, Inc. (The) by 0.4% during the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after buying an additional 8 shares during the last quarter. Hudock Capital Group LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after buying an additional 11 shares during the last quarter. Telemus Capital LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after buying an additional 16 shares during the last quarter. Finally, Green Square Capital LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 0.4% during the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 81.40% of the company’s stock.

PNC Financial Services Group, Inc. (The) 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.

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