PNC Financial (PNC) Receives a Hold from Oppenheimer

Oppenheimer analyst Chris Kotowski maintained a Hold rating on PNC Financial (PNCResearch Report) today. The company’s shares closed last Friday at $111.06.

According to TipRanks.com, Kotowski is a 4-star analyst with an average return of 4.6% and a 59.3% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, JPMorgan Chase & Co., and Solar Senior Capital.

The word on The Street in general, suggests a Hold analyst consensus rating for PNC Financial with a $116.43 average price target, representing a 6.3% upside. In a report issued on October 1, Deutsche Bank also maintained a Hold rating on the stock with a $115.00 price target.

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Based on PNC Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.08 billion and net profit of $3.65 billion. In comparison, last year the company earned revenue of $4.49 billion and had a net profit of $1.38 billion.

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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.