The PNC Financial Services Group (NYSE:PNC) Downgraded to Hold Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of The PNC Financial Services Group (NYSE:PNC) from a buy rating to a hold rating in a research note issued to investors on Thursday, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has $265.00 target price on the financial services provider’s stock.

A number of other equities analysts have also issued reports on PNC. Argus increased their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada boosted their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Stephens upped their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upped their price target on shares of The PNC Financial Services Group from $238.00 to $264.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.48.

The PNC Financial Services Group Trading Down 1.2%

Shares of PNC stock opened at $249.41 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group has a 1 year low of $176.88 and a 1 year high of $256.49. The stock has a fifty day moving average of $236.16 and a two-hundred day moving average of $224.69. The firm has a market capitalization of $100.15 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the business posted $3.85 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group will post 19.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.03%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PNC. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $25,000. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $29,000. Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC boosted its position in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.