PNC Financial Services Group, Inc. (The) (NYSE:PNC) had its price objective increased by Credit Suisse Group from $135.00 to $137.00 in a report released on Monday. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the company. Piper Jaffray Companies raised their price objective on PNC Financial Services Group, Inc. (The) from $134.00 to $147.00 and gave the stock an overweight rating in a research report on Monday. Royal Bank Of Canada raised their price objective on PNC Financial Services Group, Inc. (The) from $130.00 to $145.00 and gave the stock a top pick rating in a research report on Monday. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating and set a $152.00 price objective for the company in a research report on Tuesday, October 10th. Citigroup Inc. reissued a neutral rating and issued a $144.00 price objective (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, October 9th. Finally, J P Morgan Chase & Co reissued an overweight rating and issued a $139.50 price objective (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $131.35.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.26% on Monday, reaching $134.68. The company’s stock had a trading volume of 332,793 shares. The firm has a 50-day moving average price of $130.50 and a 200 day moving average price of $125.20. The firm has a market capitalization of $64.54 billion, a PE ratio of 17.14 and a beta of 0.95. PNC Financial Services Group, Inc. has a one year low of $87.97 and a one year high of $137.41.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. On average, analysts anticipate that PNC Financial Services Group, Inc. will post $8.40 earnings per share 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. Shareholders of record on Tuesday, October 17th will be paid 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 dividend yield of 2.22%. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 36.63%.

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

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (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 completion of the transaction, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. 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 added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its stake in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% during the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of PNC Financial Services Group, Inc. (The) by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 91 shares during the period. First Interstate Bank grew its position in shares of PNC Financial Services Group, Inc. (The) by 34.0% during the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 243 shares during the period. Atlantic Trust LLC acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the 2nd quarter valued at about $129,000. Finally, Ledyard National Bank grew its position in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 80.79% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

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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