PNC Financial Services Group (NYSE:PNC) has been given a $137.00 price objective by stock analysts at UBS Group in a research note issued to investors on Monday, October 15th, www.tipranks.com reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. UBS Group’s price target would indicate a potential upside of 2.06% from the stock’s previous close.
Several other analysts have also recently weighed in on PNC. Vining Sparks reaffirmed a “buy” rating and issued a $160.00 price target on shares of PNC Financial Services Group in a report on Tuesday, October 9th. ValuEngine cut PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Sanford C. Bernstein raised PNC Financial Services Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $158.00 to $145.00 in a report on Monday, October 15th. Deutsche Bank raised PNC Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday, October 15th. Finally, Morgan Stanley decreased their price objective on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $155.50.
Shares of NYSE:PNC traded down $0.01 on Monday, hitting $134.23. The company’s stock had a trading volume of 2,250,227 shares, compared to its average volume of 3,409,259. PNC Financial Services Group has a 1 year low of $116.55 and a 1 year high of $163.59. The stock has a market cap of $61.50 billion, a P/E ratio of 15.79, a PEG ratio of 1.31 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.11.
PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the firm posted $2.16 EPS. On average, equities research analysts expect that PNC Financial Services Group will post 10.76 EPS for the current fiscal year.
PNC Financial Services Group declared that its board has initiated a stock repurchase program on Thursday, November 8th that authorizes the company to buyback $900.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Robert Q. Reilly sold 24,710 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $140.49, for a total transaction of $3,471,507.90. Following the transaction, the executive vice president now directly owns 131,020 shares in the company, valued at approximately $18,406,999.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Braun Bostich & Associates Inc. bought a new position in PNC Financial Services Group during the 1st quarter worth approximately $105,000. Stelac Advisory Services LLC bought a new stake in shares of PNC Financial Services Group in the 3rd quarter worth approximately $118,000. Rational Advisors LLC grew its position in shares of PNC Financial Services Group by 248.4% in the 3rd quarter. Rational Advisors LLC now owns 899 shares of the financial services provider’s stock worth $122,000 after buying an additional 641 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of PNC Financial Services Group in the 3rd quarter worth approximately $127,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in shares of PNC Financial Services Group in the 2nd quarter worth approximately $143,000. Institutional investors and hedge funds own 79.84% of the company’s stock.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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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