J P Morgan Chase & Co reissued their overweight rating on shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in a research report sent to investors on Friday morning. J P Morgan Chase & Co currently has a $139.50 price objective on the financial services provider’s stock, up from their previous price objective of $138.50.

A number of other equities analysts also recently issued reports on the stock. Robert W. Baird reiterated 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. Zacks Investment Research upgraded shares of 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 reiterated 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. BidaskClub cut shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research note on Saturday, June 24th. Finally, Morgan Stanley reissued an equal weight rating and issued a $127.00 price objective (up from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $127.75.

Shares of PNC Financial Services Group, Inc. (PNC) traded up 0.11% during mid-day trading on Friday, hitting $135.69. 1,466,605 shares of the stock traded hands. PNC Financial Services Group, Inc. has a 12-month low of $87.34 and a 12-month high of $136.92. The firm’s 50 day moving average price is $129.24 and its 200 day moving average price is $124.53. The firm has a market cap of $65.02 billion, a price-to-earnings ratio of 17.27 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, October 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.21%. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several hedge funds have recently made changes to their positions in PNC. BlackRock Inc. lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% during the 1st quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after acquiring an additional 26,208,815 shares during the period. FMR LLC lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 19.4% during the 1st quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after acquiring an additional 2,239,716 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 240.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock worth $298,281,000 after acquiring an additional 1,686,944 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,624.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after acquiring an additional 1,645,007 shares during the period. Finally, Koch Industries Inc. lifted its holdings in shares of PNC Financial Services Group, Inc. (The) by 78,828.1% during the 2nd quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,348,748 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.

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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