Zacks Investment Research 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 Tuesday morning. They currently have $154.00 price objective on the financial services provider’s stock.

According to Zacks, “Shares of PNC Financial have outperformed the industry, so far, this year. The performance has been supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. The company’s third-quarter 2017 earnings benefited from higher revenues.  Higher net interest income and non-interest income were witnessed, partly offset by elevated expenses. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost-saving initiatives. Its deal to acquire the commercial and vendor finance business of ECN Capital is anticipated to be marginally accretive to earnings in 2017. However, the company’s capital deployment activities do not seem sustainable and a stretched valuation reflects limited upside potential.”

A number of other brokerages have also recently weighed in on PNC. UBS AG increased their price target on PNC Financial Services Group, Inc. (The) from $133.00 to $135.00 and gave the stock a neutral rating in a research report on Monday, October 16th. Wells Fargo & Company set a $135.00 price target on PNC Financial Services Group, Inc. (The) and gave the stock a hold rating in a research report on Thursday, October 19th. Royal Bank Of Canada increased their price target on PNC Financial Services Group, Inc. (The) from $130.00 to $145.00 and gave the stock a top pick rating in a research report on Monday, October 16th. BidaskClub cut PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies increased their price target on PNC Financial Services Group, Inc. (The) from $134.00 to $147.00 and gave the stock an overweight rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $133.99.

PNC Financial Services Group, Inc. (NYSE PNC) traded up 0.22% on Tuesday, hitting $137.09. The stock had a trading volume of 615,733 shares. The company’s 50 day moving average price is $134.18 and its 200-day moving average price is $126.70. PNC Financial Services Group, Inc. has a 12-month low of $94.30 and a 12-month high of $139.23. The company has a market cap of $65.25 billion, a price-to-earnings ratio of 16.76 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.43 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 36.63%.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 21.2% during the 3rd quarter. Chicago Equity Partners LLC now owns 13,060 shares of the financial services provider’s stock worth $1,760,000 after acquiring an additional 2,285 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 5.8% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,713 shares of the financial services provider’s stock worth $9,934,000 after acquiring an additional 4,046 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 0.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 752,805 shares of the financial services provider’s stock worth $101,456,000 after acquiring an additional 7,040 shares in the last quarter. Decatur Capital Management Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 119.8% during the 3rd quarter. Decatur Capital Management Inc. now owns 83,806 shares of the financial services provider’s stock worth $11,295,000 after acquiring an additional 45,675 shares in the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of PNC Financial Services Group, Inc. (The) during the 3rd quarter worth $1,275,000. 80.79% of the stock is owned by institutional investors and hedge funds.

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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