The PNC Financial Services Group (NYSE:PNC) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

The PNC Financial Services Group (NYSE:PNC) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on PNC. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their target price for the stock from $206.00 to $202.00 in a report on Monday. Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $204.12.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $174.58 on Monday. The PNC Financial Services Group has a one year low of $143.52 and a one year high of $216.26. The stock’s fifty day moving average is $186.98 and its 200-day moving average is $192.18. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 EPS. Equities analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the sale, the chief executive officer now owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 13,662 shares of company stock worth $2,559,389. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of PNC. Mechanics Financial Corp purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $739,000. Premier Fund Managers Ltd lifted its stake in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after acquiring an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.