Today’s Rating Alert: PNC Financial Services (NYSE:PNC) Was Downgraded by KBW to “Mkt Perform”

November 29, 2016 - By Darrin Black

Today's Rating Alert: PNC Financial Services (NYSE:PNC) Was Downgraded by KBW to

PNC Financial Services (NYSE:PNC) Downgrade

Trading of PNC Financial Services (NYSE:PNC)‘s shares is going to be interesting today. KBW downgraded the stock from a “Outperform” to a “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 -11.03% below today’s ($109.63) stock price. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by BMO Capital Markets given on Monday, September 19. The company was downgraded on Tuesday, August 11 by Wood. The stock has “Buy” rating given by Deutsche Bank on Tuesday, September 8. Raymond James downgraded the stock to “Underperform” rating in Monday, May 9 report. The rating was upgraded by Raymond James on Thursday, October 6 to “Mkt Perform”. The firm has “Mkt Perform” rating given on Wednesday, September 2 by Bruyette & Woods;KBW; KBW”. The rating was downgraded by Atlantic Securities to “Neutral” on Monday, March 14. The rating was downgraded by KBW to “Underperform” on Tuesday, August 11. The stock of PNC Financial Services Group Inc (NYSE:PNC) has “Neutral” rating given on Monday, October 10 by Nomura. The stock of PNC Financial Services Group Inc (NYSE:PNC) earned “Hold” rating by Jefferies on Monday, September 26.

About 3.94M shares traded hands or 12.89% up from the average. 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 $869.35M for 14.98 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 2016 Q2. 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.

Cypress Asset Inc Tx reported 43,587 shares or 0.71% of all its holdings. Staley Cap Advisers has 0.08% invested in the company for 9,195 shares. Everence Mngmt holds 0.19% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 7,721 shares. Telemus Capital Limited Liability Corp has invested 0.13% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). The Alabama-based Cornerstone Advsr Incorporated has invested 0.26% in PNC Financial Services Group Inc (NYSE:PNC). Magnetar Fincl Limited Liability holds 27,778 shares or 0.04% of its portfolio. Putnam Fl Mngmt Commerce holds 0.15% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 15,637 shares. Aviance Cap Ptnrs Ltd Llc has invested 0.18% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Amp Invsts Limited has 0.23% invested in the company for 428,355 shares. Vantage Invest Advisors Ltd Liability Corporation, a Pennsylvania-based fund reported 4,528 shares. Moreover, Highstreet Asset has 0.18% invested in PNC Financial Services Group Inc (NYSE:PNC) for 6,244 shares. Cincinnati Casualty owns 10,000 shares or 0.83% of their US portfolio. The California-based Fdx Advsr has invested 0.07% in PNC Financial Services Group Inc (NYSE:PNC). Advantus Mgmt holds 48,526 shares or 0.11% of its portfolio. Leavell Inv Mgmt holds 3,300 shares or 0.04% of its portfolio.

Insider Transactions: Since July 21, 2016, the stock had 1 insider buy, and 8 sales for $37.52 million net activity. Another trade for 10,000 shares valued at $953,168 was sold by Kozich Gregory H. $1.52M worth of PNC Financial Services Group Inc (NYSE:PNC) shares were sold by Rockey Joseph E. DEMCHAK WILLIAM S sold $7.86 million worth of stock. On Monday, August 8 HANNON MICHAEL J sold $2.85 million worth of the stock or 33,000 shares. Van Wyk Steven C. had sold 5,000 shares worth $536,749 on Monday, November 14. Another trade for 22,000 shares valued at $2.10M was made by Reilly Robert Q on Thursday, October 27. The insider HESSE DANIEL bought 500 shares worth $41,220.

The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $52.08 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 15.06 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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