PNC Financial Services Group’s (PNC) Hold Rating Reiterated at Jefferies Group LLC

PNC Financial Services Group Inc (NYSE:PNC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They presently have a $136.00 target price on the financial services provider’s stock. Jefferies Group LLC’s target price indicates a potential upside of 14.45% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of PNC Financial Services Group in a research report on Monday, January 16th. Credit Suisse Group AG reissued a “hold” rating and set a $112.00 target price on shares of PNC Financial Services Group in a research report on Sunday, February 5th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research report on Tuesday, January 17th. Hilliard Lyons cut shares of PNC Financial Services Group from a “neutral” rating to an “underperform” rating and set a $127.00 target price for the company. in a research report on Thursday, March 2nd. Finally, Goldman Sachs Group Inc raised shares of PNC Financial Services Group from a “neutral” rating to a “conviction-buy” rating in a research report on Wednesday, February 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $112.02.

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

Shares of PNC Financial Services Group (NYSE:PNC) traded down 0.72% on Wednesday, hitting $117.98. The stock had a trading volume of 1,042,323 shares. The firm has a 50 day moving average of $121.52 and a 200-day moving average of $113.61. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $131.83. The firm has a market capitalization of $57.22 billion, a price-to-earnings ratio of 15.56 and a beta of 0.91.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.13. PNC Financial Services Group had a net margin of 23.90% and a return on equity of 8.96%. The firm earned $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that PNC Financial Services Group will post $8.20 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 5th. Stockholders of record on Monday, April 17th will be given a $0.55 dividend. The ex-dividend date is Wednesday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. PNC Financial Services Group’s dividend payout ratio (DPR) is 30.10%.

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In other news, insider Karen L. Larrimer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $128.40, for a total value of $256,800.00. Following the transaction, the insider now directly owns 23,820 shares of the company’s stock, valued at $3,058,488. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles E. Bunch purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was acquired at an average cost of $122.79 per share, for a total transaction of $122,790.00. Following the completion of the purchase, the director now owns 2,781 shares of the company’s stock, valued at approximately $341,478.99. The disclosure for this purchase can be found here. In the last quarter, insiders sold 175,942 shares of company stock worth $22,367,208. Company insiders own 0.57% of the company’s stock.

Several institutional investors have recently bought and sold shares of PNC. Retirement Systems of Alabama increased its position in shares of PNC Financial Services Group by 1.9% in the first quarter. Retirement Systems of Alabama now owns 234,999 shares of the financial services provider’s stock worth $28,256,000 after buying an additional 4,410 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of PNC Financial Services Group during the first quarter worth approximately $589,000. Rothschild Investment Corp IL purchased a new position in shares of PNC Financial Services Group during the first quarter worth approximately $666,000. Oakbrook Investments LLC increased its position in shares of PNC Financial Services Group by 1.4% in the first quarter. Oakbrook Investments LLC now owns 47,800 shares of the financial services provider’s stock worth $5,747,000 after buying an additional 650 shares during the period. Finally, Rockland Trust Co. increased its position in shares of PNC Financial Services Group by 5.2% in the first quarter. Rockland Trust Co. now owns 3,790 shares of the financial services provider’s stock worth $456,000 after buying an additional 187 shares during the period. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its products and services nationally, as well as other products and services.

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