PNC Financial Gets a Buy Rating from RBC Capital

By Ryan Adsit

RBC Capital analyst Gerard Cassidy reiterated a Buy rating on PNC Financial (NYSE: PNC) yesterday and set a price target of $170. The company’s shares closed yesterday at $151.84, close to its 52-week high of $153.50.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 35.4% and a 92.1% success rate. Cassidy covers the Financial sector, focusing on stocks such as Provident Financial Services, Discover Financial Services, and Huntington Bancshares Inc.

Currently, the analyst consensus on PNC Financial is Moderate Buy and the average price target is $158.31, representing a 4.3% upside.

In a report issued on January 2, Robert W. Baird also reiterated a Buy rating on the stock with a $153 price target.

The company has a one-year high of $153.50 and a one-year low of $113.66. Currently, PNC Financial has an average volume of 1.78M.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2017, Robert Reilly, the EVP of PNC sold 19,576 shares for a total of $2,848,596.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.