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 Tuesday. The firm presently has a $133.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.34% from the company’s current price.

According to Zacks, “PNC Financial’s shares outperformed the Zacks categorized Regional Banks-Major industry, over the last six months. The company’s first-quarter 2017 earnings surpassed the Zacks Consensus Estimate, primarily driven by higher revenues. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost-saving initiatives. Further, its deal to acquire the commercial and vendor finance business of ECN Capital is expected to be marginally accretive to earnings in 2017. Though the company increased its prime lending rate to 4.00% following the latest Fed rate hike, margin pressure is not expected to ease drastically in the upcoming quarters. Nevertheless, given its strong balance sheet, the company displayed impressive capital deployment activities.”

Other equities research analysts also recently issued research reports about the company. Rafferty Capital Markets downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $121.00 price target for the company. in a research report on Monday, April 17th. Jefferies Group LLC reissued a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group in a research report on Wednesday, April 5th. Piper Jaffray Companies reduced their price objective on PNC Financial Services Group from $136.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods set a $125.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Friday. Finally, Instinet boosted their price objective on PNC Financial Services Group from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $112.63.

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

PNC Financial Services Group (NYSE:PNC) opened at 119.45 on Tuesday. The company’s 50-day moving average price is $119.88 and its 200 day moving average price is $118.60. The firm has a market cap of $57.80 billion, a price-to-earnings ratio of 15.75 and a beta of 0.91. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $131.83.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.13. PNC Financial Services Group had a return on equity of 8.96% and a net margin of 23.90%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that PNC Financial Services Group will post $8.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 5th. Stockholders of record on Monday, April 17th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, April 12th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 30.10%.

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In related news, CEO William S. Demchak sold 165,442 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $127.10, for a total value of $21,027,678.20. Following the completion of the transaction, the chief executive officer now directly owns 656,289 shares of the company’s stock, valued at approximately $83,414,331.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen L. Larrimer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $128.40, for a total value of $256,800.00. Following the completion of the transaction, the insider now directly owns 23,820 shares of the company’s stock, valued at $3,058,488. The disclosure for this sale can be found here. Insiders have sold 175,942 shares of company stock valued at $22,367,208 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Cambridge Trust Co. raised its position in shares of PNC Financial Services Group by 1.3% in the first quarter. Cambridge Trust Co. now owns 404,873 shares of the financial services provider’s stock worth $48,681,000 after buying an additional 5,234 shares during the period. Bank of Nova Scotia raised its position in shares of PNC Financial Services Group by 917.3% in the first quarter. Bank of Nova Scotia now owns 111,309 shares of the financial services provider’s stock worth $13,384,000 after buying an additional 100,367 shares during the period. Farmers National Bank raised its position in shares of PNC Financial Services Group by 1.1% in the first quarter. Farmers National Bank now owns 9,216 shares of the financial services provider’s stock worth $830,000 after buying an additional 103 shares during the period. Kimelman & Baird LLC acquired a new position in shares of PNC Financial Services Group during the first quarter worth about $9,471,000. Finally, Green Square Capital LLC raised its position in shares of PNC Financial Services Group by 0.4% in the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after buying an additional 18 shares during the period. 78.71% of the stock is owned by institutional investors and hedge funds.

PNC Financial Services Group Company Profile

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.

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