PNC Financial Gets a Buy Rating from BMO Capital

By Carrie Williams

BMO Capital analyst Lana Chan reiterated a Buy rating on PNC Financial (NYSE: PNC) on June 22 and set a price target of $134. The company’s shares closed yesterday at $119.55.

According to TipRanks.com, Chan is a 5-star analyst with an average return of 13.7% and a 70.8% success rate. Chan covers the Financial sector, focusing on stocks such as Westamerica Bancorporation, Huntington Bancshares Inc, and Cathay General Bancorp.

Currently, the analyst consensus on PNC Financial is Moderate Buy and the average price target is $127.56, representing a 6.7% upside.

In a report issued on June 14, RBC Capital also reiterated a Buy rating on the stock with a $130 price target.

PNC Financial’s market cap is currently $57.98B and has a P/E ratio of 15.75. The company has a book value ratio of 1.2672.

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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. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio. 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 Residential Mortgage Banking segment directly originates primarily first lien residential mortgage loans on a nationwide basis with a significant presence within the retail banking footprint, and also originates loans through majority and minority owned affiliates. Mortgage loans represent loans collateralized by one-to-four-family residential real estate. The BlackRock segment manages assets on behalf of institutional and individual investors worldwide through a variety of equity, fixed income, multi-asset class, alternative and cash management separate accounts and funds, including iShares. The Non-Strategic Assets Portfolio segment offers commercial residential development loans, cross-border leases, consumer brokered home equity loans, retail mortgages, non-prime mortgages, and residential construction loans. The company was founded in 1983 and is headquartered in Pittsburgh, PA.,000TJ9-E