Robert W. Baird reissued their buy rating on shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in a research note published on Sunday morning. The firm currently has a $135.00 target price on the financial services provider’s stock.

PNC has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating and set a $143.00 target price for the company in a research note on Friday, July 28th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a research note on Thursday, August 3rd. Instinet reiterated a neutral rating and set a $126.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, July 12th. Nomura boosted their target price on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a neutral rating in a research note on Monday, July 17th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $129.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $127.17.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 134.27 on Friday. The stock’s 50 day moving average price is $128.85 and its 200 day moving average price is $124.36. The stock has a market cap of $64.34 billion, a price-to-earnings ratio of 17.09 and a beta of 0.95. PNC Financial Services Group, Inc. has a one year low of $87.34 and a one year high of $135.73.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS 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 the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Analysts forecast that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

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PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.70 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a $0.75 dividend. The ex-dividend date is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.23%. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

In other news, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction dated 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 directly owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in shares of 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 valued at $100,000 after buying an additional 710 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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 worth $103,000 after acquiring an additional 91 shares during the period. First Interstate Bank increased its stake 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 worth $115,000 after acquiring an additional 243 shares during the period. Atlantic Trust LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the second quarter worth about $129,000. Finally, Ledyard National Bank increased its stake in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 75 shares during the period. 80.80% of the stock is owned by institutional investors and hedge funds.

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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