BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) from a buy rating to a hold rating in a research note released on Thursday morning.

A number of other equities analysts have also weighed in on PNC. Jefferies Group LLC reaffirmed a hold rating and issued a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, April 5th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating and set a $133.00 price objective for the company in a research note on Tuesday, April 11th. Hilliard Lyons raised PNC Financial Services Group, Inc. (The) from an underperform rating to a hold rating and dropped their price objective for the stock from $127.00 to $123.00 in a research note on Monday, April 17th. Rafferty Capital Markets lowered PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating and set a $121.00 price objective for the company. in a research note on Monday, April 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, April 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $121.62.

PNC Financial Services Group, Inc. (NYSE:PNC) traded up 1.04% during mid-day trading on Thursday, hitting $128.98. The company’s stock had a trading volume of 1,103,260 shares. PNC Financial Services Group, Inc. has a 52-week low of $81.35 and a 52-week high of $131.83. The company’s 50 day moving average is $125.04 and its 200-day moving average is $122.40. The stock has a market cap of $61.91 billion, a P/E ratio of 16.41 and a beta of 0.93.

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

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PNC Financial Services Group, Inc. (The) announced that its Board of Directors has initiated a share repurchase plan 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 purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 17th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, July 13th. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

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

Several large investors have recently modified their holdings of the company. First Interstate Bank increased its stake in shares of 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 valued at $115,000 after buying an additional 243 shares during the last quarter. Ledyard National Bank increased its stake in shares of 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 valued at $142,000 after buying an additional 995 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at $157,000. Quadrant Capital Group LLC increased its stake in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock valued at $162,000 after buying an additional 39 shares during the last quarter. Finally, Jacobus Wealth Management Inc. increased its stake in shares of 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 valued at $180,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 81.64% 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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