Zacks Investment Research cut shares of PNC Financial Services Group Inc. (NYSE:PNC) from a buy rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “PNC Financial’s estimates have been relatively stable ahead its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. Notably, management projects net interest income and fee revenue to remain stable on a sequential basis in the third quarter. Further, the company remains focused on driving operational efficiency through its continued expense management. However, amid the still low rate environment, muted growth in net interest income and continued margin pressure remain key concerns. Also, stringent regulatory requirements and legal costs pose a near-term headwind.”

Several other equities research analysts have also weighed in on the stock. Credit Agricole SA increased their price objective on shares of PNC Financial Services Group from $86.00 to $92.00 and gave the stock an underperform rating in a research note on Friday, September 23rd. Bank of America Corp. set a $100.00 price objective on shares of PNC Financial Services Group and gave the stock a buy rating in a research note on Wednesday, September 7th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $96.00 price objective on shares of PNC Financial Services Group in a research note on Wednesday, August 31st. Barclays PLC reiterated an equal weight rating and set a $100.00 price objective on shares of PNC Financial Services Group in a research note on Sunday, July 10th. Finally, Nomura upgraded shares of PNC Financial Services Group from a neutral rating to a buy rating and dropped their price objective for the stock from $95.00 to $84.00 in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the stock. PNC Financial Services Group has a consensus rating of Hold and an average price target of $96.65.

Analyst Recommendations for PNC Financial Services Group (NYSE:PNC)

Shares of PNC Financial Services Group (NYSE:PNC) traded down 0.25% during midday trading on Thursday, hitting $87.72. The stock had a trading volume of 1,859,488 shares. PNC Financial Services Group has a one year low of $77.40 and a one year high of $97.50. The company has a market cap of $43.11 billion, a P/E ratio of 12.10 and a beta of 0.91. The firm has a 50 day moving average of $89.74 and a 200-day moving average of $86.17.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, October 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.06. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.83 billion. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. On average, analysts forecast that PNC Financial Services Group will post $7.10 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Monday, October 17th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 13th. PNC Financial Services Group’s dividend payout ratio is presently 30.26%.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 33,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $86.49, for a total value of $2,854,170.00. Following the completion of the transaction, the insider now directly owns 87,573 shares of the company’s stock, valued at $7,574,188.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Hesse bought 500 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was bought at an average cost of $82.44 per share, with a total value of $41,220.00. Following the completion of the purchase, the director now owns 1,100 shares of the company’s stock, valued at approximately $90,684. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in PNC Financial Services Group by 0.3% in the first quarter. Wellington Management Group LLP now owns 41,611,853 shares of the company’s stock worth $3,519,114,000 after buying an additional 120,334 shares during the period. Prudential PLC increased its stake in PNC Financial Services Group by 2.8% in the first quarter. Prudential PLC now owns 1,890,084 shares of the company’s stock worth $159,845,000 after buying an additional 51,101 shares during the period. Geode Capital Management LLC increased its stake in PNC Financial Services Group by 1.8% in the first quarter. Geode Capital Management LLC now owns 4,019,685 shares of the company’s stock worth $339,245,000 after buying an additional 70,023 shares during the period. Baker Avenue Asset Management LP increased its stake in PNC Financial Services Group by 3.0% in the first quarter. Baker Avenue Asset Management LP now owns 4,739 shares of the company’s stock worth $401,000 after buying an additional 139 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in PNC Financial Services Group by 153.3% in the first quarter. Riverhead Capital Management LLC now owns 86,373 shares of the company’s stock worth $7,304,000 after buying an additional 52,278 shares during the period. 80.22% of the stock is owned by institutional investors.

About PNC Financial Services Group

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

5 Day Chart for NYSE:PNC

Receive News & Stock Ratings for PNC Financial Services Group Inc. 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. and related stocks with our FREE daily email newsletter.