BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) from a hold rating to a buy rating in a research report report published on Thursday morning.

Several other research analysts have also recently weighed in on PNC. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $129.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Rafferty Capital Markets raised shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a report on Monday, July 17th. Nomura upped their price target on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a neutral rating in a report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $122.75.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up 1.27% during midday trading on Thursday, hitting $132.17. The company’s stock had a trading volume of 2,399,614 shares. PNC Financial Services Group, Inc. has a 52-week low of $82.17 and a 52-week high of $132.67. The firm has a market cap of $63.44 billion, a P/E ratio of 16.82 and a beta of 0.93. The stock’s 50 day moving average is $125.42 and its 200-day moving average is $122.60.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 earnings per share. Equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 17th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.27%. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is presently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $2.70 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 2,833.1% in the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after buying an additional 26,208,815 shares in the last quarter. FMR LLC raised its stake in PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after buying an additional 2,239,716 shares in the last quarter. APG Asset Management N.V. raised its stake in PNC Financial Services Group, Inc. (The) by 275.3% in the first quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock worth $195,598,000 after buying an additional 1,193,335 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in PNC Financial Services Group, Inc. (The) by 43,366.7% in the second quarter. Harbour Capital Advisors LLC now owns 798,918 shares of the financial services provider’s stock worth $6,398,000 after buying an additional 797,080 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in PNC Financial Services Group, Inc. (The) by 272.1% in the first quarter. First Trust Advisors LP now owns 855,203 shares of the financial services provider’s stock worth $102,830,000 after buying an additional 625,372 shares in the last quarter. Institutional investors own 81.64% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

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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