PNC Financial Services Group Sees Large Volume Increase After Earnings Beat (PNC)

Jefferies Group now has a hold rating on the stock. The ratio turned negative, as 47 funds sold all PNC Financial Services Group Inc shares owned while 357 reduced positions. 1,846,145 shares of the stock were exchanged. PNC Financial Services has a 52 week low of $76.69 and a 52 week high of $100.52. The $98.08 average target is 12.64% above today’s ($87.07) stock price. The company has a market cap of $44.27 billion and a PE ratio of 11.88. (The), the company reported earnings per share of $1.9 for the quarter ending on 2014-12-31. Noninterest income fell 1.4% from a year prior to $1.71 billion, driven by lower asset- management and residential-mortgage income. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period previous year, the firm posted $1.85 EPS. Shareholders of record on Thursday, October 15th will be paid a dividend of 0.51 per share on Thursday, November 5th.

Revenue at PNC, which has more than 2,600 branches, slipped 1.7% to $3.78 billion. The ex-dividend date of this dividend is Tuesday, October 13th. MKM Partners raised their price objective on Hartford Financial Services Group from $45.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, July 28th. Stephens began coverage on shares of PNC Financial Services Group in a research note on Thursday, June 18th.

Higher interest rates will allow banks to earn larger spreads on the deposits they’ve collected. Finally, Deutsche Bank reissued a “hold” rating and set a $105.00 price objective on shares of PNC Financial Services Group in a research report on Wednesday, July 29th.

According to data compiled by Thomson Reuters, PNC Financial Services (NYSE:PNC)’s stock is covered by 25 equity analysts across the Street, with 1 analysts giving it a Sell rating, 9 a Buy rating, while 20 consider it a Hold. The average twelve-month price objective among analysts that have issued ratings on the stock in the past year is $49.50.

The PNC Financial Services Group, Inc.is a diversified financial services firm in the United States. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing its products and services nationally and others in its markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Kentucky, Florida, Washington, D.C., Delaware, Virginia, Missouri, Wisconsin and Georgia. The Hartford conducts business principally in six segments, including Commercial Lines (formerly Property & Casualty Commercial), Private Lines (previously Consumer Marketplaces), Property & Casualty Other Businesses, Group Benefits, Mutual Funds and Talcott Resolution, along with a Corporate class. The Hartford comprises in its Corporate group the Company’s debt financing and associated interest expense, along with other capital raising activities, and purchase accounting adjustments related to goodwill along with other expenses not allocated to other sections.