PNC Financial Services Group, Inc. (The) (NYSE:PNC) had its price objective raised by J P Morgan Chase & Co from $139.50 to $140.50 in a research note issued to investors on Wednesday. The firm presently has an “overweight” rating on the financial services provider’s stock. J P Morgan Chase & Co’s price objective would suggest a potential upside of 1.34% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird reiterated a “buy” rating and issued a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, August 28th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, August 27th. Morgan Stanley reissued an “equal weight” rating and issued a $127.00 price target (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $126.00 price target (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $133.99.

PNC Financial Services Group, Inc. (NYSE PNC) traded up $1.70 during mid-day trading on Wednesday, hitting $138.64. The stock had a trading volume of 999,992 shares, compared to its average volume of 1,563,638. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 16.90 and a beta of 0.91.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts expect that PNC Financial Services Group, Inc. will post 8.43 earnings per share for the current fiscal year.

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In related news, insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $136.98, for a total value of $429,432.30. Following the sale, the insider now owns 20,449 shares of the company’s stock, valued at approximately $2,801,104.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Honeywell International Inc. lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.3% in the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock worth $19,530,000 after purchasing an additional 400 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in PNC Financial Services Group, Inc. (The) by 20.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock valued at $906,000 after acquiring an additional 1,235 shares during the period. Daiwa Securities Group Inc. increased its position in PNC Financial Services Group, Inc. (The) by 3.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock valued at $1,916,000 after acquiring an additional 500 shares during the period. Canada Pension Plan Investment Board increased its position in PNC Financial Services Group, Inc. (The) by 12.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after acquiring an additional 70,962 shares during the period. Finally, Davis Selected Advisers increased its position in PNC Financial Services Group, Inc. (The) by 1.7% in the 2nd quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock valued at $38,380,000 after acquiring an additional 5,262 shares during the period. 80.79% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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