PNC Financial Services Group Inc (NYSE:PNC) had its price target raised by equities researchers at Instinet from $121.00 to $127.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Instinet’s price objective indicates a potential upside of 6.88% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Piper Jaffray Companies cut their price target on shares of PNC Financial Services Group from $136.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of PNC Financial Services Group in a research note on Monday. Rafferty Capital Markets lowered shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a research note on Monday. Hilliard Lyons upgraded shares of PNC Financial Services Group from an “underperform” rating to a “hold” rating and cut their price target for the stock from $127.00 to $123.00 in a research note on Monday. Finally, Zacks Investment Research upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $112.02.

Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

Shares of PNC Financial Services Group (NYSE:PNC) traded up 2.02% during trading on Wednesday, reaching $118.83. 2,053,899 shares of the company were exchanged. The stock has a market capitalization of $57.63 billion, a P/E ratio of 15.67 and a beta of 0.91. The firm has a 50-day moving average price of $121.86 and a 200-day moving average price of $113.57. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $131.83.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.13. PNC Financial Services Group had a net margin of 23.90% and a return on equity of 8.96%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business earned $1.68 EPS. PNC Financial Services Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts predict that PNC Financial Services Group will post $8.20 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 5th. Investors of record on Monday, April 17th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, April 12th. PNC Financial Services Group’s dividend payout ratio (DPR) is 30.10%.

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In related news, CEO William S. Demchak sold 165,442 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $127.10, for a total value of $21,027,678.20. Following the completion of the sale, the chief executive officer now owns 656,289 shares in the company, valued at $83,414,331.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles E. Bunch acquired 1,000 shares of PNC Financial Services Group stock in a transaction that occurred on Thursday, February 9th. The stock was bought at an average price of $122.79 per share, with a total value of $122,790.00. Following the purchase, the director now directly owns 2,781 shares of the company’s stock, valued at $341,478.99. The disclosure for this purchase can be found here. Insiders sold 176,942 shares of company stock valued at $22,484,058 in the last quarter. Company insiders own 0.57% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Cooke & Bieler LP boosted its stake in shares of PNC Financial Services Group by 1.3% in the third quarter. Cooke & Bieler LP now owns 830,481 shares of the financial services provider’s stock valued at $74,818,000 after buying an additional 10,533 shares during the period. Cubic Asset Management LLC boosted its stake in shares of PNC Financial Services Group by 0.6% in the third quarter. Cubic Asset Management LLC now owns 60,701 shares of the financial services provider’s stock valued at $5,469,000 after buying an additional 375 shares during the period. Partnervest Advisory Services LLC boosted its stake in shares of PNC Financial Services Group by 8.4% in the third quarter. Partnervest Advisory Services LLC now owns 3,224 shares of the financial services provider’s stock valued at $290,000 after buying an additional 250 shares during the period. Commonwealth Equity Services Inc boosted its stake in shares of PNC Financial Services Group by 6.1% in the third quarter. Commonwealth Equity Services Inc now owns 89,634 shares of the financial services provider’s stock valued at $8,075,000 after buying an additional 5,152 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of PNC Financial Services Group by 3.9% in the third quarter. Quadrant Capital Group LLC now owns 1,379 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 78.71% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its products and services nationally, as well as other products and services.

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