PNC Financial Services Group Inc. (NYSE:PNC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $83.59, but opened at $83.88. PNC Financial Services Group shares last traded at $86.16, with a volume of 1,655,180 shares traded.

PNC has been the subject of a number of analyst reports. Vetr lowered PNC Financial Services Group from a “strong-buy” rating to a “buy” rating and set a $99.22 price target for the company. in a report on Tuesday, May 24th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of PNC Financial Services Group in a report on Friday, June 10th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of PNC Financial Services Group in a report on Sunday, April 17th. Zacks Investment Research raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Nomura lowered PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.79.

The stock has a market cap of $42.48 billion and a price-to-earnings ratio of 11.92. The firm’s 50 day moving average is $82.21 and its 200-day moving average is $84.70.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, July 15th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.75 by $0.07. During the same period in the previous year, the business earned $1.88 earnings per share. The company had revenue of $3.79 billion for the quarter. The firm’s revenue was down 1.9% on a year-over-year basis. Equities analysts anticipate that PNC Financial Services Group Inc. will post $7.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 18th were issued a $0.55 dividend. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, July 14th.

In other PNC Financial Services Group news, Director Daniel Hesse purchased 500 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was purchased at an average price of $82.44 per share, with a total value of $41,220.00. Following the acquisition, the director now owns 1,100 shares in the company, valued at $90,684. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds and institutional investors have made changes to their positions in PNC. Dai Ichi Life Insurance CO. LTD. increased its position in shares of PNC Financial Services Group by 144.9% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 105,789 shares of the company’s stock worth $10,083,000 after buying an additional 62,597 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of PNC Financial Services Group by 5.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 68,100 shares of the company’s stock worth $6,491,000 after buying an additional 3,403 shares during the last quarter. Schroder Investment Management Group increased its position in shares of PNC Financial Services Group by 11.5% in the fourth quarter. Schroder Investment Management Group now owns 2,099,917 shares of the company’s stock worth $200,143,000 after buying an additional 217,026 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of PNC Financial Services Group by 77.3% in the fourth quarter. Victory Capital Management Inc. now owns 16,199 shares of the company’s stock worth $1,544,000 after buying an additional 7,060 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its position in shares of PNC Financial Services Group by 6.4% in the fourth quarter. Atlantic Trust Group LLC now owns 22,469 shares of the company’s stock worth $2,141,000 after buying an additional 1,346 shares during the last quarter.

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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