PNC Financial Services Group Inc. (NYSE:PNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $124.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.18% from the company’s current price.

According to Zacks, “PNC Financial’s shares have outperformed the Zacks categorized Regional Banks-Major industry, year-to-date. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost saving initiatives. Notably, management projects net interest income and fee revenue to remain stable on a sequential basis in the fourth quarter. Though margin compression is expected to persist in absence of significant rise in interest rate and escalating costs stemming from legal hassles and stringent regulatory requirements will likely hurt the company’s profitability and business flexibility, we remain optimistic as the bank remains well positioned for top-line growth, supported by consistent growth in loans and deposits and fee income.”

Several other analysts have also issued reports on PNC. Vetr lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $95.30 price target on the stock. in a research report on Wednesday, November 9th. Barclays PLC reaffirmed a “hold” rating and set a $97.00 target price on shares of PNC Financial Services Group in a report on Tuesday, October 11th. Deutsche Bank AG upped their target price on shares of PNC Financial Services Group from $99.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $98.00 to $114.00 in a report on Tuesday. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of PNC Financial Services Group in a report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $99.10.

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

PNC Financial Services Group (NYSE:PNC) opened at 110.54 on Thursday. The stock’s 50 day moving average is $98.79 and its 200 day moving average is $89.39. The company has a market cap of $53.78 billion, a P/E ratio of 15.37 and a beta of 0.82. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $112.07.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.06. PNC Financial Services Group had a net margin of 23.77% and a return on equity of 9.04%. The company had revenue of $3.83 billion for the quarter. During the same period last year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts anticipate that PNC Financial Services Group will post $7.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 17th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $2.20 annualized dividend and a yield of 1.99%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 30.51%.

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In other PNC Financial Services Group news, insider Joseph E. Rockey sold 16,400 shares of the company’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $92.93, for a total value of $1,524,052.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 82,500 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $95.31, for a total transaction of $7,863,075.00. Following the completion of the transaction, the chief executive officer now owns 476,255 shares of the company’s stock, valued at $45,391,864.05. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC raised its position in shares of PNC Financial Services Group by 70.6% in the third quarter. SevenBridge Financial Group LLC now owns 20,985 shares of the company’s stock valued at $1,845,000 after buying an additional 8,687 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of PNC Financial Services Group during the third quarter valued at about $904,000. D.A. Davidson & CO. raised its position in shares of PNC Financial Services Group by 382.4% in the third quarter. D.A. Davidson & CO. now owns 11,109 shares of the company’s stock valued at $997,000 after buying an additional 8,806 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of PNC Financial Services Group during the third quarter valued at about $9,264,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of PNC Financial Services Group by 0.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,662,428 shares of the company’s stock valued at $329,948,000 after buying an additional 28,810 shares during the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

PNC Financial Services Group Company Profile

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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