Market Update: The PNC Financial Services Group Inc (NYSE:PNC) – PNC Changes Prime Rate

[PR Newswire] – PITTSBURGH, Dec. 16, 2015 /PRNewswire/ — PNC (NYSE: PNC) announced an increase in its prime lending rate. The new rate of 3.50 percent is effective tomorrow, December 17, 2015. The PNC Financial Services … Read more on this. The PNC Financial Services Group, Inc. (PNC) , valued at $49.26B, started the session at $95.59. Today’s price range has been between $94.40 and $97.18 per share with the price of the stock fluctuating between $81.84 to $100.52 over the last 52 weeks. PNC Financial (PNC) shares are currently priced at 12.94x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.96x earnings multiple for the same period. The company pays shareholders $2.04 per share in dividend income per year, for a current yield of 2.20%. In a review of the consensus earnings estimate this quarter, 32 sell-side analysts are looking at $1.81 per share, which would be $0.03 worse than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $7.33 which would be a $0.03 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.79 Billion. If realized, that would be a 4.05% decrease over the year-ago quarter. Recently, Keefe Bruyette upgraded PNC from Underperform to Mkt Perform (Sep 2, 2015). Previously, Keefe Bruyette downgraded PNC from Mkt Perform to Underperform. Given all the information above, we should disclose to readers that the average price target is $99.44, which is 4.03% above than it opened this morning. See more in (NYSE:PNC) Similar Articles: Company Update: The PNC Financial Services Group Inc (NYSE:PNC) – The PNC Financial Services Group To Report Fourth Quarter And Full Year Earnings On January 15 Market Update: The PNC Financial Services Group Inc (NYSE:PNC) – The PNC Financial Services Group To Report Third Quarter Earnings On October 14 Stock Update: The PNC Financial Services Group Inc (NYSE:PNC) – PNC Chief Executive To Speak At Barclays Global Financial Services Conference