PNC Financial Services Group (PNC) Stock Rating Reaffirmed by Piper Jaffray Companies

PNC Financial Services Group (NYSE:PNC)‘s stock had its “buy” rating reiterated by Piper Jaffray Companies in a research report issued to clients and investors on Monday. They currently have a $151.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 7.09% from the stock’s current price.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of PNC Financial Services Group in a report on Monday, October 16th. Credit Suisse Group upped their price objective on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the company a “neutral” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Tuesday, October 31st. Finally, Instinet reaffirmed a “neutral” rating and issued a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group in a report on Saturday, September 30th. Sixteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $136.13.

PNC Financial Services Group (PNC) traded up $0.44 during trading hours on Monday, reaching $141.00. 2,576,100 shares of the company’s stock traded hands, compared to its average volume of 2,203,457. The stock has a market cap of $67,087.95, a P/E ratio of 17.22, a PEG ratio of 1.88 and a beta of 0.90. PNC Financial Services Group has a 12 month low of $110.68 and a 12 month high of $143.16. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. research analysts anticipate that PNC Financial Services Group will post 8.44 earnings per share for the current fiscal year.

In other PNC Financial Services Group news, insider Orlando C. Esposito sold 4,505 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider E William Parsley III sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,640 shares of company stock valued at $5,196,952. Company insiders own 0.43% of the company’s stock.

Large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC raised its position in shares of PNC Financial Services Group by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares during the last quarter. First Interstate Bank raised its position in shares of PNC Financial Services Group by 2.6% in the second quarter. First Interstate Bank now owns 982 shares of the financial services provider’s stock valued at $123,000 after buying an additional 25 shares during the last quarter. Atlantic Trust LLC acquired a new stake in shares of PNC Financial Services Group in the second quarter valued at about $129,000. Finally, Legacy Advisors LLC acquired a new stake in shares of PNC Financial Services Group in the third quarter valued at about $136,000. Institutional investors own 81.57% 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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