Oppenheimer Reaffirms Their Hold Rating on PNC Financial (PNC)


Oppenheimer analyst Chris Kotowski maintained a Hold rating on PNC Financial (PNC) yesterday. The company’s shares closed yesterday at $121.89.

Kotowski observed:

“PNC ground out another solid quarter with $2.75 in 4Q EPS, slightly ahead of our $2.72E and slightly below consensus of $2.79E. The results had only minor non- recurring and seemed generally in line and reflect good operating fundamentals with a ~14.9% ROTCE, which was roughly in line with the full year of 15.1%. The earnings call featured all the normal hand wringing questions about deposit betas and “slow loan growth,” but in our view what we think a lot of analysts don’t realize is that this is a bottom line-, not top line-oriented management. The point is not just to make loans, but to make money, and that is what the company does.”

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 8.8% and a 59.0% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.

Currently, the analyst consensus on PNC Financial is a Moderate Buy with an average price target of $142.89, representing a 17.2% upside. In a report issued on January 7, Goldman Sachs also downgraded the stock to Hold with a $144 price target.

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PNC Financial’s market cap is currently $55.7B and has a P/E ratio of 11.37. The company has a Price to Book ratio of 1.17.

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PNC Financial Services Group, Inc. engages in the provision of diversified financial services, including retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-backed lending; wealth management and asset management.

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