PNC Financial Services Group, Inc. (The) (NYSE:PNC) – Investment analysts at Jefferies Group lowered their FY2018 EPS estimates for PNC Financial Services Group, Inc. (The) in a research note issued on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings of $9.25 per share for the year, down from their previous forecast of $9.30. Jefferies Group currently has a “Hold” rating and a $136.00 target price on the stock.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the business earned $1.84 EPS. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.7% compared to the same quarter last year.

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PNC has been the subject of several other research reports. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Friday, July 28th. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $139.50 price target (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, October 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $133.70.

PNC Financial Services Group, Inc. (NYSE PNC) traded up 1.22% during midday trading on Thursday, reaching $136.95. The company’s stock had a trading volume of 2,081,042 shares. PNC Financial Services Group, Inc. has a 52 week low of $92.37 and a 52 week high of $137.71. The firm has a market capitalization of $65.63 billion, a PE ratio of 17.43 and a beta of 0.95. The stock has a 50 day moving average of $131.34 and a 200 day moving average of $125.54.

A number of hedge funds have recently added to or reduced their stakes in the stock. Inverness Counsel LLC NY increased its holdings in PNC Financial Services Group, Inc. (The) by 0.8% during the 3rd quarter. Inverness Counsel LLC NY now owns 230,089 shares of the financial services provider’s stock valued at $31,009,000 after purchasing an additional 1,716 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in PNC Financial Services Group, Inc. (The) by 271.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 66,205 shares of the financial services provider’s stock valued at $8,922,000 after purchasing an additional 48,376 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in PNC Financial Services Group, Inc. (The) by 0.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,570,643 shares of the financial services provider’s stock valued at $211,676,000 after purchasing an additional 4,472 shares in the last quarter. Lincoln Capital Corp acquired a new stake in PNC Financial Services Group, Inc. (The) during the 3rd quarter valued at $1,389,000. Finally, Mutual of America Capital Management LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 6.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 82,765 shares of the financial services provider’s stock valued at $11,154,000 after purchasing an additional 4,656 shares in the last quarter. 80.79% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.43% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.19%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 36.63%.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Earnings History and Estimates for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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