The PNC Financial Services Group (NYSE:PNC) Earns Overweight Rating from Analysts at Stephens

Equities research analysts at Stephens began coverage on shares of The PNC Financial Services Group (NYSE:PNC) in a research note issued on Monday. The firm set an “overweight” rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on PNC. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Oppenheimer raised their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Citigroup lifted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded down $3.76 on Monday, reaching $233.90. The stock had a trading volume of 582,184 shares, compared to its average volume of 2,403,293. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average is $220.85 and its two-hundred day moving average is $216.30. The firm has a market capitalization of $93.93 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.99 and a beta of 0.92. The PNC Financial Services Group has a 12 month low of $172.88 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the firm earned $3.51 EPS. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group will post 18.93 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The transaction 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 firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently bought and sold shares of PNC. Monetary Solutions Ltd bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Financial Life Planners purchased a new position in The PNC Financial Services Group during the 1st quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC grew its holdings in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.