In a report released today, Chris Kotowski from Oppenheimer assigned a Hold rating to PNC Financial (NYSE: PNC). The company’s shares opened today at $138.06.
Kotowski commented:
“The theme of this year is very much alive with PNC—2.9% year/year growth in average loans led to 6.9% growth in net interest income that, when combined with only a 4.2% growth in expenses, led to a strong 10.1% growth in pre-provision earnings. When combined with a 3.3% reduction in share count, these trends generated a $2.72 EPS (albeit with help from a ~$0.05 per share Visa benefit) topping our and consensus estimates of $2.62 and $2.58, respectively. We see the strong performance continuing and have only made modest changes to our model and estimates.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 10.7% and a 66.3% 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.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for PNC Financial with a $156.83 average price target, representing a 13.6% upside. In a report issued on July 9, Jefferies also reiterated a Hold rating on the stock with a $149 price target.
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PNC Financial’s market cap is currently $65.01B and has a P/E ratio of 12.72. The company has a Price to Book ratio of 1.38.
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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.
