PNC Financial Services Group, Inc. (The) (NYSE:PNC) has been given a $135.00 price target by research analysts at Wells Fargo & Company in a research report issued on Thursday. The firm presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target would suggest a potential downside of 1.42% from the company’s previous close.

Several other research analysts have also recently commented on the company. Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Tuesday, July 4th. BMO Capital Markets reissued a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, June 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $133.70.

PNC Financial Services Group, Inc. (NYSE PNC) traded up 1.22% on Thursday, reaching $136.95. 2,081,042 shares of the company’s stock were exchanged. PNC Financial Services Group, Inc. has a 1-year low of $92.37 and a 1-year high of $137.71. The firm’s 50 day moving average is $131.66 and its 200 day moving average is $125.66. The stock has a market capitalization of $65.63 billion, a P/E ratio of 17.42 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.03. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. Analysts expect that PNC Financial Services Group, Inc. will post $8.42 EPS for the current year.

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

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In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after acquiring an additional 589,235 shares in the last quarter. BlackRock Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.3% in the 2nd quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock worth $3,430,820,000 after acquiring an additional 341,222 shares in the last quarter. FMR LLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 13.9% in the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after acquiring an additional 1,915,923 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PNC Financial Services Group, Inc. (The) by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after acquiring an additional 875,164 shares in the last quarter. Finally, Capital World Investors raised its position in shares of PNC Financial Services Group, Inc. (The) by 6.9% in the 2nd quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock worth $1,262,761,000 after acquiring an additional 654,997 shares in the last quarter. 80.79% 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)

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