Several brokerages have updated their recommendations and price targets on shares of PNC Financial Services Group (NYSE: PNC) in the last few weeks:

  • 5/30/2017 – PNC Financial Services Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $136.00 price target on the stock. According to Zacks, “PNC Financial’s shares outperformed the Zacks categorized Regional Banks-Major industry, over the last six months. 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.”
  • 5/29/2017 – PNC Financial Services Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PNC Financial’s shares outperformed the Zacks categorized Regional Banks-Major industry, over the last six months. 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.”
  • 5/23/2017 – PNC Financial Services Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $133.00 price target on the stock. 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.”
  • 5/22/2017 – PNC Financial Services Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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.”
  • 5/19/2017 – PNC Financial Services Group was given a new $125.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 4/19/2017 – PNC Financial Services Group had its price target raised by analysts at Instinet from $121.00 to $127.00. They now have a “neutral” rating on the stock.
  • 4/19/2017 – PNC Financial Services Group had its price target raised by analysts at Barclays PLC from $125.00 to $130.00. They now have an “equal weight” rating on the stock.
  • 4/18/2017 – PNC Financial Services Group had its price target lowered by analysts at Piper Jaffray Companies from $136.00 to $135.00. They now have an “overweight” rating on the stock.
  • 4/17/2017 – PNC Financial Services Group was upgraded by analysts at Hilliard Lyons from an “underperform” rating to a “hold” rating. They now have a $123.00 price target on the stock, down previously from $127.00.
  • 4/17/2017 – PNC Financial Services Group was downgraded by analysts at Rafferty Capital Markets from a “buy” rating to a “hold” rating. They now have a $121.00 price target on the stock.
  • 4/17/2017 – PNC Financial Services Group had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 4/11/2017 – PNC Financial Services Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $133.00 price target on the stock. According to Zacks, “PNC Financial’s shares outperformed the Zacks categorized Regional Banks-Major industry, over the last six months. We remain encouraged by the company’s efforts to generate positive operating leverage through its cost-saving initiatives. Also, management projects revenues to rise at a mid-single digit rate in 2017, aided by loan growth. Further, its deal to acquire the commercial and vendor finance business of ECN Capital is expected to be marginally accretive to earnings in 2017. Further, given its strong balance sheet, the company has an impressive capital deployment activities. 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. Also, stringent regulatory requirements will likely hurt the company’s profitability and business flexibility in the near term.”
  • 4/5/2017 – PNC Financial Services Group had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $136.00 price target on the stock.

Shares of PNC Financial Services Group Inc (NYSE PNC) traded down 2.12% during mid-day trading on Tuesday, hitting $118.75. The stock had a trading volume of 1,688,859 shares. PNC Financial Services Group Inc has a one year low of $77.40 and a one year high of $131.83. The firm’s 50 day moving average price is $120.10 and its 200-day moving average price is $118.85. The company has a market cap of $57.46 billion, a PE ratio of 15.66 and a beta of 0.91.

PNC Financial Services Group (NYSE:PNC) last released 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 net margin of 23.90% and a return on equity of 8.96%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that PNC Financial Services Group Inc will post $8.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Monday, April 17th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, April 12th. PNC Financial Services Group’s dividend payout ratio (DPR) is 30.10%.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $128.40, for a total transaction of $256,800.00. Following the completion of the sale, the insider now directly owns 23,820 shares in the company, valued at $3,058,488. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

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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