PNC Financial Services Group, Inc. (The) (NYSE:PNC)‘s stock had its “buy” rating reissued by stock analysts at Deutsche Bank AG in a research note issued on Tuesday. They presently have a $130.00 price objective on the financial services provider’s stock, up from their previous price objective of $120.00. Deutsche Bank AG’s target price would suggest a potential upside of 0.52% from the stock’s previous close.

Several other research firms have also issued reports on PNC. Instinet reiterated a “neutral” rating and set a $126.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $127.00 target price (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Nomura upped their price objective on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $121.57.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded up 1.72% on Tuesday, hitting $129.33. The company had a trading volume of 2,977,356 shares. The firm has a market capitalization of $62.08 billion, a P/E ratio of 16.46 and a beta of 0.93. The firm has a 50 day moving average of $124.06 and a 200-day moving average of $122.19. PNC Financial Services Group, Inc. has a 12-month low of $81.35 and a 12-month high of $131.83.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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In related news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.43% of the company’s stock.

A number of large investors have recently modified their holdings of PNC. First Interstate Bank increased its stake in shares of PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares in the last quarter. Ledyard National Bank increased its stake in shares of PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock worth $142,000 after buying an additional 995 shares in the last quarter. Pinnacle Bank bought a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $157,000. Quadrant Capital Group LLC increased its stake in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock worth $162,000 after buying an additional 39 shares in the last quarter. Finally, Jacobus Wealth Management Inc. increased its stake in shares of PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after buying an additional 53 shares in the last quarter. 80.97% of the stock is currently 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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