The PNC Financial Services Group (NYSE:PNC) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of The PNC Financial Services Group (NYSE:PNC – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of The PNC Financial Services Group from a hold rating to a buy rating and decreased their price objective for the company from $200.00 to $190.00 in a report on Friday, January 6th. Bank of America lowered shares of The PNC Financial Services Group from a neutral rating to an underperform rating and boosted their target price for the company from $157.00 to $160.00 in a research report on Thursday, January 5th. Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $150.00 to $164.00 and gave the company a neutral rating in a research report on Wednesday, February 15th. Barclays cut their target price on shares of The PNC Financial Services Group from $222.00 to $218.00 and set an overweight rating for the company in a research report on Tuesday, January 3rd. Finally, Robert W. Baird cut their target price on shares of The PNC Financial Services Group from $210.00 to $205.00 and set an outperform rating for the company in a research report on Thursday, January 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of Hold and a consensus target price of $180.36.

The PNC Financial Services Group Stock Up 0.4 %

Shares of The PNC Financial Services Group stock opened at $130.53 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $52.17 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 2.02 and a beta of 1.16. The PNC Financial Services Group has a 52-week low of $124.21 and a 52-week high of $199.43. The company has a 50-day simple moving average of $157.37 and a two-hundred day simple moving average of $157.59.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The firm had revenue of $5.76 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm posted $2.86 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group will post 14.66 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Friday, January 13th. The PNC Financial Services Group’s dividend payout ratio is currently 43.26%.

Insider Activity

In other news, CEO William S. Demchak bought 6,550 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 20th. The shares were acquired at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the purchase, the chief executive officer now owns 482,924 shares in the company, valued at approximately $74,070,883.12. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William S. Demchak purchased 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $129.70 per share, with a total value of $129,700.00. Following the purchase, the chief executive officer now directly owns 525,349 shares of the company’s stock, valued at approximately $68,137,765.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak purchased 6,550 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 20th. The stock was bought at an average cost of $153.38 per share, for a total transaction of $1,004,639.00. Following the purchase, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 37,505,547 shares of the financial services provider’s stock worth $5,604,078,000 after acquiring an additional 198,950 shares in the last quarter. State Street Corp boosted its holdings in shares of The PNC Financial Services Group by 3.3% in the 3rd quarter. State Street Corp now owns 18,436,065 shares of the financial services provider’s stock valued at $2,754,717,000 after buying an additional 595,811 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of The PNC Financial Services Group by 21.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,413,715 shares of the financial services provider’s stock valued at $2,116,282,000 after buying an additional 2,373,814 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. Bank of America Corp DE now owns 9,264,839 shares of the financial services provider’s stock valued at $1,463,289,000 after buying an additional 36,414 shares in the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.