PNC Financial Services Group, Inc. (The) (PNC) Given “Neutral” Rating at Citigroup Inc.

Citigroup Inc. reissued their neutral rating on shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in a report released on Monday morning. Citigroup Inc. currently has a $144.00 target price on the financial services provider’s stock, up from their previous target price of $125.00.

PNC has been the topic of several other reports. Sanford C. Bernstein reiterated a market perform rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, October 3rd. BidaskClub downgraded PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research note on Saturday, June 24th. Piper Jaffray Companies reiterated a buy rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Stephens downgraded PNC Financial Services Group, Inc. (The) from an overweight rating to an equal weight rating in a research note on Thursday, October 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reiterated an overweight rating and set a $139.50 target price (up from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $128.90.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 135.61 on Monday. The firm has a 50-day moving average price of $129.49 and a 200-day moving average price of $124.73. PNC Financial Services Group, Inc. has a 52 week low of $87.34 and a 52 week high of $136.92. The firm has a market cap of $64.99 billion, a PE ratio of 17.26 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group, Inc. (The) (PNC) Given “Neutral” Rating at Citigroup Inc.” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/10/pnc-financial-services-group-inc-the-pnc-given-neutral-rating-at-citigroup-inc.html.

The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a $0.75 dividend. The ex-dividend date is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.21%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.70 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the sale, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of PNC. BlackRock Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% in the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after purchasing an additional 26,208,815 shares during the last quarter. FMR LLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after purchasing an additional 2,239,716 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 240.4% in the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock worth $298,281,000 after purchasing an additional 1,686,944 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,624.0% in the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after purchasing an additional 1,645,007 shares during the last quarter. Finally, Koch Industries Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 78,828.1% in the second quarter. Koch Industries Inc. now owns 1,350,

PNC has been the topic of several other reports. Sanford C. Bernstein reiterated a market perform rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, October 3rd. BidaskClub downgraded PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research note on Saturday, June 24th. Piper Jaffray Companies reiterated a buy rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Stephens downgraded PNC Financial Services Group, Inc. (The) from an overweight rating to an equal weight rating in a research note on Thursday, October 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reiterated an overweight rating and set a $139.50 target price (up from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $128.90.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 135.61 on Monday. The firm has a 50-day moving average price of $129.49 and a 200-day moving average price of $124.73. PNC Financial Services Group, Inc. has a 52 week low of $87.34 and a 52 week high of $136.92. The firm has a market cap of $64.99 billion, a PE ratio of 17.26 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group, Inc. (The) (PNC) Given “Neutral” Rating at Citigroup Inc.” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/10/pnc-financial-services-group-inc-the-pnc-given-neutral-rating-at-citigroup-inc.html.

The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a $0.75 dividend. The ex-dividend date is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.21%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.70 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the sale, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of PNC. BlackRock Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% in the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after purchasing an additional 26,208,815 shares during the last quarter. FMR LLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after purchasing an additional 2,239,716 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 240.4% in the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock worth $298,281,000 after purchasing an additional 1,686,944 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,624.0% in the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after purchasing an additional 1,645,007 shares during the last quarter. Finally, Koch Industries Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 78,828.1% in the second quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,348,748 shares during the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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