PNC Financial Services Group Inc (PNC) was Upgraded by Nomura to ” Buy” while Lowering the Price Target of the company shares to $ 84 from a previous price target of $95 . Earlier the firm had a rating of “Neutral ” on the company shares. Nomura advised their investors in a research report released on Jul 7, 2016.
Many Wall Street Analysts have commented on PNC Financial Services Group Inc. PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 2016. 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 .
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 closed down -2.1 points or -2.59% at $78.83 with 27,55,754 shares getting traded on Tuesday. Post opening the session at $80.03, the shares hit an intraday low of $78.495 and an intraday high of $80.365 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.