PNC Financial Services Group, Inc. (The) (NYSE:PNC)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a note issued to investors on Monday. They presently have a $127.00 price objective on the financial services provider’s stock, up from their previous price objective of $121.00. Morgan Stanley’s price objective would suggest a potential downside of 0.28% from the company’s previous close.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $129.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday. Rafferty Capital Markets upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Monday. Nomura lifted their price target on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a report on Monday. Finally, Instinet reiterated a “neutral” rating and issued a $126.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $120.97.

PNC Financial Services Group, Inc. (NYSE PNC) traded up 0.15% during midday trading on Monday, hitting $127.36. The company had a trading volume of 2,321,417 shares. The company has a market capitalization of $61.63 billion, a P/E ratio of 16.80 and a beta of 0.93. The stock has a 50 day moving average price of $121.09 and a 200 day moving average price of $120.99. PNC Financial Services Group, Inc. has a 52 week low of $81.35 and a 52 week high of $131.83.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. Equities analysts forecast that PNC Financial Services Group, Inc. will post $8.28 earnings per share for the current fiscal year.

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

COPYRIGHT VIOLATION NOTICE: “PNC Financial Services Group, Inc. (The) (PNC) Given “Equal Weight” Rating at Morgan Stanley” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/07/17/pnc-financial-services-group-inc-the-nysepnc-given-new-127-00-price-target-at-morgan-stanley.html.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of 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 valued at $3,262,582,000 after buying an additional 26,208,815 shares during the period. FMR LLC boosted its position in shares of 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 valued at $1,654,586,000 after buying an additional 2,239,716 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of PNC Financial Services Group, Inc. (The) by 0.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,268,778 shares of the financial services provider’s stock valued at $1,114,478,000 after buying an additional 59,832 shares during the period. Bank of New York Mellon Corp boosted its position in shares of PNC Financial Services Group, Inc. (The) by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 5,951,738 shares of the financial services provider’s stock valued at $715,638,000 after buying an additional 69,815 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of PNC Financial Services Group, Inc. (The) by 8.5% in the first quarter. Geode Capital Management LLC now owns 4,570,121 shares of the financial services provider’s stock valued at $548,698,000 after buying an additional 357,192 shares during the period. 81.02% 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)

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.