Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $154.00 price objective on the financial services provider’s stock.

According to Zacks, “Shares of PNC Financial have outperformed the industry, so far, this year. The performance has been supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. The company’s third-quarter 2017 earnings benefited from higher revenues.  Higher net interest income and non-interest income were witnessed, partly offset by elevated expenses. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost-saving initiatives. Its deal to acquire the commercial and vendor finance business of ECN Capital is anticipated to be marginally accretive to earnings in 2017. However, the company’s capital deployment activities do not seem sustainable and a stretched valuation reflects limited upside potential.”

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a hold rating and set a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, July 14th. Nomura raised their price objective on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a neutral rating in a research report on Monday, July 17th. Deutsche Bank AG restated a buy rating and set a $130.00 price objective (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Morgan Stanley restated an equal weight rating and set a $127.00 price objective (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Finally, Instinet reiterated a neutral rating and issued a $126.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $133.99.

PNC Financial Services Group, Inc. (PNC) opened at $138.64 on Tuesday. The stock has a market cap of $65.85 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.92.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 in the prior year, the business posted $1.84 EPS. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.7% compared to the same quarter last year. analysts predict that PNC Financial Services Group, Inc. will post 8.43 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

In other PNC Financial Services Group, Inc. (The) news, insider Karen L. Larrimer sold 3,135 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the transaction, the insider now directly owns 20,449 shares of the company’s stock, valued at $2,801,104.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% during the second 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 holdings in shares of PNC Financial Services Group, Inc. (The) by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock valued at $103,000 after buying an additional 91 shares during the last quarter. First Interstate Bank grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 34.0% during 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. Atlantic Trust LLC purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the second quarter valued at $129,000. Finally, Legacy Advisors LLC acquired a new position in PNC Financial Services Group, Inc. (The) during the third quarter valued at $136,000. 80.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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