PNC Financial Services Group Inc (PNC) is Downgraded by Nomura to Neutral

PNC Financial Services Group Inc (PNC) was Downgraded by Nomura to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Nomura advised their investors in a research report released on Oct 10, 2016.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 2016.

On the company’s financial health, PNC Financial Services Group Inc reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $1.75. The company had revenue of $3794.00 million for the quarter, compared to analysts expectations of $3826.61 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.88 EPS.

PNC Financial Services Group Inc closed down -0.4 points or -0.44% at $91.42 with 20,81,672 shares getting traded on Friday. Post opening the session at $91.78, the shares hit an intraday low of $90.79 and an intraday high of $91.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 10, 2016, Michael J Hannon (Executive Vice President) sold 33,000 shares at $86.49 per share price. According to the SEC, on Jul 25, 2016, Daniel Hesse (director) purchased 500 shares at $82.44 per share price. On May 4, 2016, Charles E Bunch (director) purchased 1,000 shares at $87.81 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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