In a report released today, Mike Mayo from Wells Fargo maintained a Hold rating on PNC Financial (PNC). The company’s shares closed last Monday at $117.95, close to its 52-week low of $114.67.
According to TipRanks.com, Mayo is a 4-star analyst with an average return of 4.2% and a 53.6% success rate. Mayo covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, JPMorgan Chase & Co., and Goldman Sachs Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PNC Financial with a $162.46 average price target, which is a 40.8% upside from current levels. In a report issued on March 2, Morgan Stanley also maintained a Hold rating on the stock with a $159.00 price target.
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Based on PNC Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.54 billion and net profit of $1.36 billion. In comparison, last year the company earned revenue of $5.03 billion and had a net profit of $1.33 billion.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is neutral on the stock.
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PNC Financial Services Group, Inc. engages in the provision of diversified financial services. The company’s financial services include: 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. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment provides deposit, lending, brokerage, trust, investment management, and cash management services to consumer and small business customers within its primary geographic markets. The Corporate & Institutional segment provides lending, treasury management, and capital markets-related products and services to mid-sized corporations, government and not-for-profit entities, and selectively to large corporations. The Asset Management Group segment includes personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The BlackRock segment operates as a publicly-traded investment management firm providing a broad range of investment, risk management and technology services to institutional and retail clients worldwide. The company was founded in 1983 and is headquartered in Pittsburgh, PA.