PNC Financial Services Group Inc. (NYSE:PNC) saw unusually-strong trading volume on Wednesday . Approximately 2,527,047 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 2,035,806 shares.The stock last traded at $89.71 and had previously closed at $88.87.

Several equities analysts have recently weighed in on PNC shares. Nomura raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $95.00 to $84.00 in a research note on Thursday, July 7th. Barclays PLC reissued an “equal weight” rating and issued a $100.00 price target on shares of PNC Financial Services Group in a research note on Sunday, July 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $96.00 price target on shares of PNC Financial Services Group in a research note on Wednesday. Raymond James Financial Inc. downgraded shares of PNC Financial Services Group from a “market perform” rating to an “underperform” rating in a research note on Monday, May 9th. Finally, Zacks Investment Research raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $95.89.

The company has a market capitalization of $44.28 billion and a price-to-earnings ratio of 12.43. The firm has a 50 day moving average of $84.56 and a 200 day moving average of $85.04.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.07. During the same quarter in the prior year, the firm posted $1.88 EPS. The company had revenue of $3.79 billion for the quarter. PNC Financial Services Group’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts expect that PNC Financial Services Group Inc. will post $7.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 18th were issued a dividend of $0.55 per share. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, July 14th. This represents a $2.20 annualized dividend and a dividend yield of 2.44%.

In other PNC Financial Services Group news, Director Daniel Hesse purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were purchased at an average price of $82.44 per share, for a total transaction of $41,220.00. Following the completion of the acquisition, the director now owns 1,100 shares of the company’s stock, valued at approximately $90,684. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the completion of the transaction, the insider now owns 87,573 shares in the company, valued at approximately $7,574,188.77. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of the stock. US Bancorp DE raised its position in PNC Financial Services Group by 2.6% in the fourth quarter. US Bancorp DE now owns 574,222 shares of the company’s stock valued at $54,729,000 after buying an additional 14,325 shares during the last quarter. I.G. Investment Management LTD. raised its position in PNC Financial Services Group by 29.3% in the fourth quarter. I.G. Investment Management LTD. now owns 26,631 shares of the company’s stock valued at $2,538,000 after buying an additional 6,033 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PNC Financial Services Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,791,457 shares of the company’s stock valued at $266,076,000 after buying an additional 45,417 shares during the last quarter. BlackRock Advisors LLC raised its position in PNC Financial Services Group by 2,923.2% in the fourth quarter. BlackRock Advisors LLC now owns 200,012 shares of the company’s stock valued at $19,063,000 after buying an additional 193,396 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in PNC Financial Services Group by 2.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,396,423 shares of the company’s stock valued at $133,094,000 after buying an additional 38,480 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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