November 29, 2016 - By Michael Collier
PNC Financial Services Group (NYSE:PNC)‘s rating was downgraded by investment analysts at Keefe Bruyette & Woods from a Outperform rating to a Market Perform rating in a research report revealed to clients on 29 November.
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 -11.08% below today’s ($109.7) stock price. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Bruyette & Woods” on Tuesday, August 11. The rating was upgraded by Argus Research to “Buy” on Monday, October 17. On Tuesday, November 24 the stock rating was initiated by Piper Jaffray with “Overweight”. The stock has “Buy” rating given by Deutsche Bank on Tuesday, September 8. Hilliard Lyons initiated the shares of PNC in a report on Friday, October 2 with “Neutral” rating. On Monday, April 25 the stock rating was maintained by Nomura with “Neutral”. The stock has “Underperform” rating given by KBW on Tuesday, August 11. Nomura downgraded the shares of PNC in a report on Monday, October 10 to “Neutral” rating. As per Tuesday, March 22, the company rating was initiated by Societe Generale. The firm earned “Market Perform” rating on Wednesday, September 2 by KBW.
About 2.06 million 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 earnings per share, down 2.14% or $0.04 from last year’s $1.87 per share. PNC’s profit will be $872.29 million for 14.99 P/E if the $1.83 EPS becomes a reality. After $1.84 actual earnings per share 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.
Mark Sheptoff Planning Lc holds 0.03% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 439 shares. Palisade Management Ltd Limited Liability Company Nj reported 6,507 shares or 0.02% of all its holdings. Financial Counselors owns 92,568 shares or 0.45% of their US portfolio. Moreover, Vnbtrust National Association has 0.12% invested in PNC Financial Services Group Inc (NYSE:PNC) for 2,471 shares. State Of Wisconsin Investment Board accumulated 820,652 shares or 0.27% of the stock. Btim Corp has invested 0.76% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Hermes Management Limited accumulated 232,431 shares or 0.38% of the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Mgmt holds 114,500 shares or 0.11% of its portfolio. Pictet Asset Mngmt reported 266,435 shares or 0.09% of all its holdings. The Alabama-based First Comml Bank Na has invested 0.07% in PNC Financial Services Group Inc (NYSE:PNC). The Texas-based Amer Natl Registered Invest Advisor has invested 0.67% in PNC Financial Services Group Inc (NYSE:PNC). Wilbanks Smith Thomas Asset Llc last reported 20,367 shares in the company. Axa accumulated 277,915 shares or 0.1% of the stock. Indiana Tru & Inv Mngmt reported 2,593 shares or 0.11% of all its holdings. The Georgia-based Suntrust Banks Incorporated has invested 0.23% in PNC Financial Services Group Inc (NYSE:PNC).
Insider Transactions: Since July 21, 2016, the stock had 1 insider buy, and 8 selling transactions for $37.52 million net activity. HANNON MICHAEL J sold $2.38M worth of stock or 25,000 shares. Shares for $536,749 were sold by Van Wyk Steven C. on Monday, November 14. 16,400 PNC Financial Services Group Inc (NYSE:PNC) shares with value of $1.52M were sold by Rockey Joseph E. On Thursday, October 27 the insider Reilly Robert Q sold $2.10 million. The insider DEMCHAK WILLIAM S sold 179,809 shares worth $19.35 million. Kozich Gregory H sold $953,168 worth of stock. HESSE DANIEL also bought $41,220 worth of PNC Financial Services Group Inc (NYSE:PNC) shares.
The PNC Financial Services Group, Inc. is a diversified financial services firm in the United States. The company has a market cap of $52.29 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 15.12 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)”
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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