PNC Financial Services Group, Inc. (The) (NYSE:PNC) – Investment analysts at Jefferies Group raised their FY2017 earnings per share estimates for PNC Financial Services Group, Inc. (The) in a report issued on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $8.42 per share for the year, up from their prior estimate of $8.37. Jefferies Group currently has a “Hold” rating and a $136.00 price target on the stock. Jefferies Group also issued estimates for PNC Financial Services Group, Inc. (The)’s Q4 2017 earnings at $2.21 EPS.

A number of other brokerages have also recently issued reports on PNC. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Friday, July 28th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Robert W. Baird reiterated a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, August 28th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $139.50 price objective (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, October 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) presently has a consensus rating of “Hold” and an average price target of $129.26.

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PNC Financial Services Group, Inc. (NYSE:PNC) opened at 136.49 on Thursday. The company has a 50-day moving average of $130.03 and a 200-day moving average of $124.94. The stock has a market capitalization of $65.41 billion, a price-to-earnings ratio of 17.37 and a beta of 0.95. PNC Financial Services Group, Inc. has a 1-year low of $87.34 and a 1-year high of $136.92.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business posted $1.82 EPS. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% during the 1st quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after purchasing an additional 26,208,815 shares during the period. FMR LLC lifted its position in PNC Financial Services Group, Inc. (The) by 19.4% during the 1st quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after acquiring an additional 2,239,716 shares in the last quarter. Principal Financial Group Inc. lifted its position in PNC Financial Services Group, Inc. (The) by 240.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock worth $298,281,000 after acquiring an additional 1,686,944 shares in the last quarter. Janus Henderson Group PLC lifted its position in PNC Financial Services Group, Inc. (The) by 2,624.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after acquiring an additional 1,645,007 shares in the last quarter. Finally, Koch Industries Inc. lifted its position in PNC Financial Services Group, Inc. (The) by 78,828.1% during the 2nd quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,348,748 shares in the last quarter. Institutional investors own 80.80% of the company’s stock.

In related news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has approved a stock repurchase 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

PNC Financial Services Group, Inc. (The) 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.

Earnings History and Estimates for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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