Deutsche Bank upgraded shares of PNC Financial Services Group (NYSE:PNC) from a hold rating to a buy rating in a research report released on Monday morning, The Fly reports.
PNC has been the topic of a number of other reports. Sanford C. Bernstein upgraded shares of PNC Financial Services Group from a market perform rating to an outperform rating and cut their price objective for the company from $158.00 to $145.00 in a research note on Monday. ValuEngine cut shares of PNC Financial Services Group from a hold rating to a sell rating in a research report on Friday, October 12th. Finally, Vining Sparks reiterated a buy rating and issued a $160.00 price target on shares of PNC Financial Services Group in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $154.62.
Shares of NYSE PNC opened at $124.22 on Monday. PNC Financial Services Group has a fifty-two week low of $121.61 and a fifty-two week high of $163.59. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market cap of $63.23 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.24 and a beta of 0.92.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, October 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.71%.
In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 24,710 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now directly owns 131,020 shares in the company, valued at $18,406,999.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of PNC. Braun Bostich & Associates Inc. purchased a new position in PNC Financial Services Group in the 1st quarter worth about $105,000. TRUE Private Wealth Advisors purchased a new position in PNC Financial Services Group in the 3rd quarter worth about $127,000. McKinley Carter Wealth Services Inc. purchased a new position in PNC Financial Services Group in the 1st quarter worth about $150,000. Landaas & Co. WI ADV purchased a new position in PNC Financial Services Group in the 2nd quarter worth about $147,000. Finally, Archford Capital Strategies LLC increased its stake in PNC Financial Services Group by 197.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 723 shares in the last quarter. Hedge funds and other institutional investors own 79.83% 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.
Recommended Story: How analysts view the yield curve
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.