PNC Financial Services Group, Inc. (The) (NYSE:PNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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. Also, ease of regulations is likely to support profitability.  Though the company increased its prime lending rate to 4.25% following the latest Fed rate hike, however, margin pressure is not expected to ease drastically in the upcoming quarters.”

Other research analysts have also issued research reports about the company. Hilliard Lyons lowered PNC Financial Services Group, Inc. (The) from a “neutral” rating to an “underperform” rating and set a $127.00 price target on the stock. in a research report on Thursday, March 2nd. Keefe, Bruyette & Woods set a $125.00 price target on PNC Financial Services Group, Inc. (The) and gave the stock a “hold” rating in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, April 5th. Piper Jaffray Companies lowered their price target on PNC Financial Services Group, Inc. (The) from $136.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $130.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have assigned 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 an average price target of $114.74.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up 1.34% during midday trading on Monday, hitting $124.15. The company had a trading volume of 943,974 shares. The firm’s 50-day moving average is $121.07 and its 200-day moving average is $120.34. The firm has a market capitalization of $60.08 billion, a P/E ratio of 16.37 and a beta of 0.91. PNC Financial Services Group, Inc. has a 12-month low of $77.40 and a 12-month high of $131.83.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its 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, Inc. (The) had a return on equity of 9.05% and a net margin of 24.31%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm earned $1.68 EPS. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts predict that PNC Financial Services Group, Inc. will post $8.22 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “PNC Financial Services Group, Inc. (The) (PNC) Stock Rating Lowered by Zacks Investment Research” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/06/19/pnc-financial-services-group-inc-the-pnc-stock-rating-lowered-by-zacks-investment-research.html.

A number of hedge funds have recently added to or reduced their stakes in PNC. Artisan Partners Limited Partnership purchased a new stake in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at about $23,936,000. State Street Corp increased its stake in PNC Financial Services Group, Inc. (The) by 7.6% in the fourth quarter. State Street Corp now owns 23,934,316 shares of the financial services provider’s stock valued at $2,799,364,000 after buying an additional 1,686,493 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at about $3,085,000. Abbrea Capital LLC purchased a new stake in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at about $895,000. Finally, Honkamp Krueger Financial Services Inc. ADV purchased a new stake in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at about $341,000. Institutional investors and hedge funds own 81.33% 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.

Get a free copy of the Zacks research report on PNC Financial Services Group, Inc. (The) (PNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.