The PNC Financial Services Group (NYSE:PNC) Rating Increased to Buy at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell


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Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of The PNC Financial Services Group (NYSE:PNC) from a neutral rating to a buy rating in a research report released on Monday, AR Network reports. They currently have $179.00 price target on the financial services provider’s stock, up from their previous price target of $140.00.

Several other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on The PNC Financial Services Group from $115.00 to $157.00 and gave the stock a hold rating in a report on Wednesday, January 6th. Bank of America upped their target price on The PNC Financial Services Group from $135.00 to $138.00 and gave the stock a buy rating in a research note on Thursday, October 15th. TheStreet raised The PNC Financial Services Group from a c rating to a b- rating in a research note on Wednesday, October 14th. Credit Suisse Group upped their target price on The PNC Financial Services Group from $120.00 to $147.00 and gave the stock a neutral rating in a research note on Friday, December 11th. Finally, Oppenheimer reaffirmed a hold rating on shares of The PNC Financial Services Group in a research note on Tuesday, November 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $142.06.

Shares of NYSE PNC opened at $159.10 on Monday. The PNC Financial Services Group has a 12 month low of $79.41 and a 12 month high of $162.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.17 and a beta of 1.24. The business has a 50-day moving average of $146.46 and a 200-day moving average of $119.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Monday, October 19th. The financial services provider reported $3.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $1.27. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $2.94 earnings per share. The PNC Financial Services Group’s revenue was up .9% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group will post 5.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 5th. Investors of record on Tuesday, January 19th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.89%. The PNC Financial Services Group’s dividend payout ratio is presently 40.39%.

Institutional investors have recently made changes to their positions in the stock. Prudential PLC grew its stake in shares of The PNC Financial Services Group by 227.9% during the third quarter. Prudential PLC now owns 1,099,851 shares of the financial services provider’s stock valued at $120,885,000 after buying an additional 764,401 shares during the last quarter. Morgan Stanley increased its stake in shares of The PNC Financial Services Group by 38.2% in the third quarter. Morgan Stanley now owns 2,515,186 shares of the financial services provider’s stock valued at $276,445,000 after purchasing an additional 694,581 shares during the period. Inverness Counsel LLC NY raised its holdings in shares of The PNC Financial Services Group by 100.7% during the third quarter. Inverness Counsel LLC NY now owns 283,334 shares of the financial services provider’s stock valued at $31,141,000 after buying an additional 142,131 shares during the last quarter. Hexavest Inc. raised its holdings in shares of The PNC Financial Services Group by 79.3% during the third quarter. Hexavest Inc. now owns 315,352 shares of the financial services provider’s stock valued at $34,660,000 after buying an additional 139,428 shares during the last quarter. Finally, Equity Investment Corp boosted its position in shares of The PNC Financial Services Group by 37.5% during the third quarter. Equity Investment Corp now owns 487,577 shares of the financial services provider’s stock worth $53,590,000 after buying an additional 133,075 shares during the period. Institutional investors own 79.48% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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