PNC Financial Services Group (NYSE:PNC) Lowered to “Sell” at ValuEngine

PNC Financial Services Group (NYSE:PNC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

PNC has been the subject of several other reports. Barclays raised their price objective on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Morgan Stanley cut their price objective on shares of PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $142.99.

PNC stock traded down $0.30 during mid-day trading on Thursday, hitting $137.96. 1,859,437 shares of the company were exchanged, compared to its average volume of 1,751,648. The business has a 50 day simple moving average of $138.72. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.40. The firm has a market cap of $64.51 billion, a PE ratio of 12.88, a PEG ratio of 1.86 and a beta of 1.07. PNC Financial Services Group has a 1-year low of $108.45 and a 1-year high of $147.00.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.05. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.72 earnings per share. Sell-side analysts predict that PNC Financial Services Group will post 11.29 earnings per share for the current year.

In other news, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $138.41, for a total transaction of $692,050.00. Following the transaction, the insider now directly owns 52,417 shares of the company’s stock, valued at $7,255,036.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory H. Kozich sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.82, for a total transaction of $1,398,200.00. Following the transaction, the insider now directly owns 20,080 shares in the company, valued at $2,807,585.60. The disclosure for this sale can be found here. Insiders have sold 141,242 shares of company stock worth $19,853,468 over the last ninety days. Insiders own 0.37% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PNC Financial Services Group in the first quarter valued at approximately $25,000. Field & Main Bank bought a new position in PNC Financial Services Group in the first quarter valued at approximately $25,000. IMA Wealth Inc. bought a new position in PNC Financial Services Group in the first quarter valued at approximately $25,000. Penserra Capital Management LLC bought a new position in PNC Financial Services Group in the first quarter valued at approximately $25,000. Finally, Westside Investment Management Inc. bought a new position in PNC Financial Services Group in the second quarter valued at approximately $29,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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