PNC Financial Services Group, Inc. (The) (NYSE:PNC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also weighed in on PNC. Jefferies Group LLC reissued a “hold” rating and set a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $129.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, July 14th. Nomura lifted their price target on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a research report on Monday, July 17th. Finally, Instinet reaffirmed a “neutral” rating and set a $126.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $122.57.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 128.05 on Friday. The firm has a market cap of $61.36 billion, a P/E ratio of 16.30 and a beta of 0.93. The stock’s 50 day moving average is $127.20 and its 200 day moving average is $123.30. PNC Financial Services Group, Inc. has a 12-month low of $84.97 and a 12-month high of $133.26.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the company earned $1.82 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

PNC Financial Services Group, Inc. (The) announced that its board has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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In related news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the sale, 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. 0.43% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its stake in PNC Financial Services Group, Inc. (The) by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after buying an additional 710 shares during the period. First Interstate Bank increased its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares during the period. Ledyard National Bank increased its stake in PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock worth $142,000 after buying an additional 995 shares during the period. Pinnacle Bank acquired a new stake in PNC Financial Services Group, Inc. (The) during the first quarter worth $157,000. Finally, Jacobus Wealth Management Inc. increased its stake in PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 81.49% 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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