PNC Financial Services Group Inc (PNC) is Downgraded by Raymond James to Underperform

PNC Financial Services Group Inc (PNC) was Downgraded by Raymond James to ” Underperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on May 9, 2016.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Reiterated by Compass Point on Apr 15, 2016 to “Neutral” and Lowered the Price Target to $ 93 from a previous price target of $99 .PNC Financial Services Group Inc was Downgraded by Atlantic Equities to ” Neutral” on Mar 14, 2016.

On the company’s financial health, PNC Financial Services Group Inc reported $1.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $1.70. The company had revenue of $3665.00 million for the quarter, compared to analysts expectations of $3758.25 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.75 EPS.

PNC Financial Services Group Inc opened for trading at $84.9 and hit $85.74 on the upside on Friday, eventually ending the session at $85.61, with a gain of 0.30% or 0.26 points. The heightened volatility saw the trading volume jump to 21,62,623 shares. Company has a market cap of $42,747 M.

In a different news, on May 4, 2016, Charles E Bunch (director) purchased 1,000 shares at $87.81 per share price. According to the SEC, on Apr 22, 2016, Michael J Hannon (Executive Vice President) sold 12,500 shares at $86.94 per share price. On Feb 10, 2016, Daniel Hesse (director) purchased 500 shares at $81.00 per share price, according to the Form-4 filing with the securities and exchange commission.

The PNC Financial Services Group Inc. is a diversified financial services company in the United States. The Company has businesses engaged in retail banking corporate and institutional banking asset management and residential mortgage banking as well as other products and services in its primary geographic markets located in Pennsylvania Ohio New Jersey Michigan Illinois Maryland Indiana North Carolina Florida Kentucky Washington D.C. Delaware Virginia Alabama Missouri Georgia Wisconsin and South Carolina. The Company operates through six segments: Retail Banking Corporate & Institutional Banking Asset Management Group Residential Mortgage Banking BlackRock and Non-Strategic Assets Portfolio.

PNC Financial Services Group Inc

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