Stock Rating Runner: PNC (NYSE:PNC)’s Is Reaching An Inflection Point; Keefe Bruyette Downgrades It

November 29, 2016 - By whatsonthorold

Stock Rating Runner: PNC (NYSE:PNC)'s Is Reaching An Inflection Point; Keefe Bruyette Downgrades It

PNC (NYSE:PNC) Downgrade

In a a note revealed to investors on Tuesday, 29 November, stock analysts at Keefe Bruyette’s equity research division cut PNC (NYSE:PNC)‘s stock rating from aOutperform to Mkt Perform.

PNC Financial Services Group Inc (NYSE:PNC) Ratings Coverage

Out of 18 analysts covering PNC Financial Services (NYSE:PNC), 5 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 28% are positive. $107 is the highest target while $86 is the lowest. The $97.54 average target is -11.54% below today’s ($110.26) stock price. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Barclays Capital maintained PNC Financial Services Group Inc (NYSE:PNC) rating on Monday, July 18. Barclays Capital has “Equalweight” rating and $97 price target. The stock of PNC Financial Services Group Inc (NYSE:PNC) earned “Neutral” rating by Hilliard Lyons on Friday, October 2. The firm has “Neutral” rating by Atlantic Securities given on Monday, March 14. On Tuesday, March 22 the stock rating was initiated by Societe Generale with “Hold”. Deutsche Bank upgraded the shares of PNC in a report on Tuesday, September 8 to “Buy” rating. The firm has “Market Perform” rating given on Wednesday, September 2 by KBW. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Neutral” rating given on Monday, April 25 by Nomura. The firm earned “Neutral” rating on Wednesday, January 6 by Nomura. Argus Research upgraded the shares of PNC in a report on Monday, October 17 to “Buy” rating. KBW downgraded it to “Underperform” rating and $101 target price in Tuesday, August 11 report.

About 374,122 shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 23.54% since April 26, 2016 and is uptrending. It has outperformed by 18.28% the S&P500.

Analysts await PNC Financial Services Group Inc (NYSE:PNC) to report earnings on January, 13 before the open. They expect $1.83 EPS, down 2.14% or $0.04 from last year’s $1.87 per share. PNC’s profit will be $872.35 million for 15.06 P/E if the $1.83 EPS becomes a reality. After $1.84 actual EPS reported by PNC Financial Services Group Inc for the previous quarter, Wall Street now forecasts -0.54% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.98 in Q2 2016. Its up 0.09, from 0.89 in 2016Q1. The ratio increased, as 59 funds sold all PNC Financial Services Group Inc shares owned while 337 reduced positions. 52 funds bought stakes while 299 increased positions. They now own 388.74 million shares or 0.81% less from 391.90 million shares in 2016Q1.

City owns 2,859 shares or 0.1% of their US portfolio. Btim has invested 0.76% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Alpha Windward Lc has 2,974 shares for 0.17% of their US portfolio. Highlander Capital Management Llc reported 2,150 shares or 0.16% of all its holdings. Blackrock Advsrs Lc holds 210,275 shares or 0.02% of its portfolio. Bowling Portfolio Ltd Llc holds 29,026 shares or 0.39% of its portfolio. Dalton Greiner Hartman Maher And Co last reported 124,105 shares in the company. Moreover, Hermes Investment Mgmt Limited has 0.38% invested in PNC Financial Services Group Inc (NYSE:PNC) for 232,431 shares. Deere And Communications holds 0.19% or 43,160 shares in its portfolio. Breton Hill has invested 0.29% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Art Limited Company holds 0.21% or 52,151 shares in its portfolio. The Kentucky-based Hl Fincl Services Ltd has invested 0.3% in PNC Financial Services Group Inc (NYSE:PNC). Fdx Advisors Incorporated accumulated 0.07% or 18,954 shares. Great West Life Assurance Can owns 518,189 shares or 0.16% of their US portfolio. The Florida-based Dreman Value Management L L C has invested 1.38% in PNC Financial Services Group Inc (NYSE:PNC).

Insider Transactions: Since July 21, 2016, the stock had 1 insider buy, and 8 sales for $37.52 million net activity. Shares for $536,749 were sold by Van Wyk Steven C. on Monday, November 14. HESSE DANIEL also bought $41,220 worth of PNC Financial Services Group Inc (NYSE:PNC) shares. $1.52M worth of PNC Financial Services Group Inc (NYSE:PNC) was sold by Rockey Joseph E on Friday, October 21. 179,809 shares were sold by DEMCHAK WILLIAM S, worth $19.35M. HANNON MICHAEL J also sold $2.38 million worth of PNC Financial Services Group Inc (NYSE:PNC) shares. Another trade for 10,000 shares valued at $953,168 was sold by Kozich Gregory H. Reilly Robert Q had sold 22,000 shares worth $2.10M on Thursday, October 27.

The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $52.56 billion. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio. It has a 15.2 P/E ratio. Retail Banking provides deposit, lending, brokerage, investment management and cash management services.

According to Zacks Investment Research, “The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. (Company Press Release)”

PNC Company Profile

The PNC Financial Services Group, Inc. (PNC), incorporated on January 19, 1983, is a diversified financial services firm in the United States. The Firm has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its services and products nationally, as well as other services and products in its primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. It also provides various services and products internationally. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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