PNC Financial Services Group (NYSE:PNC) had its price objective trimmed by Bank of America from $138.00 to $123.00 in a research note released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also weighed in on PNC. Compass Point upped their price objective on shares of PNC Financial Services Group from $104.00 to $109.00 and gave the company a neutral rating in a report on Wednesday, May 13th. Royal Bank of Canada reiterated a buy rating and set a $120.00 price objective on shares of PNC Financial Services Group in a report on Wednesday, April 8th. Standpoint Research started coverage on shares of PNC Financial Services Group in a report on Monday, May 18th. They set an accumulate rating on the stock. Oppenheimer reiterated a hold rating on shares of PNC Financial Services Group in a report on Sunday, April 19th. Finally, Deutsche Bank dropped their price objective on shares of PNC Financial Services Group from $155.00 to $108.00 and set a hold rating on the stock in a report on Thursday, April 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $124.86.

Shares of PNC opened at $102.68 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $43.10 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.29. The firm’s fifty day simple moving average is $109.77 and its two-hundred day simple moving average is $120.99. PNC Financial Services Group has a 12 month low of $79.41 and a 12 month high of $161.79.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.24. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. PNC Financial Services Group had a net margin of 23.23% and a return on equity of 10.16%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.61 earnings per share. As a group, research analysts predict that PNC Financial Services Group will post 5.27 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Friday, July 17th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $4.60 annualized dividend and a yield of 4.48%. PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

In other news, Director Richard J. Harshman acquired 1,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $97.55 per share, for a total transaction of $97,550.00. Following the purchase, the director now owns 1,150 shares in the company, valued at approximately $112,182.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

A number of large investors have recently bought and sold shares of PNC. Norges Bank purchased a new stake in PNC Financial Services Group in the 4th quarter valued at about $687,326,000. Capital International Investors raised its holdings in PNC Financial Services Group by 11.3% in the 4th quarter. Capital International Investors now owns 12,495,158 shares of the financial services provider’s stock valued at $1,994,603,000 after buying an additional 1,270,949 shares during the period. Alliancebernstein L.P. raised its holdings in PNC Financial Services Group by 23.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,009,450 shares of the financial services provider’s stock valued at $640,029,000 after buying an additional 757,348 shares during the period. AQR Capital Management LLC raised its holdings in PNC Financial Services Group by 202.8% in the 4th quarter. AQR Capital Management LLC now owns 976,912 shares of the financial services provider’s stock valued at $155,945,000 after buying an additional 654,319 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in PNC Financial Services Group by 5.0% in the 1st quarter. JPMorgan Chase & Co. now owns 13,204,468 shares of the financial services provider’s stock valued at $1,263,932,000 after buying an additional 627,213 shares during the period. Hedge funds and other institutional investors own 80.49% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

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