The PNC Financial Services Group (NYSE:PNC) Upgraded to "Hold" at Wall Street Zen

The PNC Financial Services Group (NYSE:PNC - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Several other research analysts have also weighed in on PNC. Bank of America lifted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Citigroup boosted their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley upped their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.76.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $0.55 during trading hours on Friday, reaching $196.54. 2,548,240 shares of the stock were exchanged, compared to its average volume of 2,145,522. The firm has a market capitalization of $77.75 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.80. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $216.26. The stock's fifty day simple moving average is $182.39 and its 200 day simple moving average is $180.21.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the company posted $3.39 EPS. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director owned 2,009 shares of the company's stock, valued at $317,863.98. This represents a 99.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer owned 554,879 shares in the company, valued at $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,545 shares of company stock valued at $1,590,080. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in PNC. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC lifted its stake in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $35,000. WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter worth $36,000. Finally, REAP Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

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.