Argus upgraded shares of PNC Financial Services Group Inc. (NYSE:PNC) from a hold rating to a buy rating in a research report report published on Monday. Argus currently has $98.00 price objective on the stock, up from their previous price objective of $88.03.

Several other brokerages also recently commented on PNC. Barclays PLC reissued a hold rating and set a $97.00 target price on shares of PNC Financial Services Group in a research note on Tuesday, October 11th. Raymond James Financial Inc. raised PNC Financial Services Group from an underperform rating to a market perform rating in a research note on Thursday, October 6th. Vetr downgraded PNC Financial Services Group from a buy rating to a hold rating and set a $94.63 price objective for the company. in a research note on Thursday, October 6th. Nomura downgraded PNC Financial Services Group from a buy rating to a neutral rating in a research note on Monday, October 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded PNC Financial Services Group from a buy rating to a hold rating in a research note on Thursday, October 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $96.48.

Shares of PNC Financial Services Group (NYSE:PNC) traded up 0.76% during midday trading on Monday, hitting $88.88. 223,857 shares of the company were exchanged. The company has a market capitalization of $43.68 billion, a P/E ratio of 12.26 and a beta of 0.91. The company has a 50-day moving average of $89.85 and a 200 day moving average of $86.23. PNC Financial Services Group has a one year low of $77.40 and a one year high of $97.50.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, October 14th. The company reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.06. The firm earned $3.83 billion during the quarter. PNC Financial Services Group had a return on equity of 8.92% and a net margin of 23.77%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. On average, equities research analysts expect that PNC Financial Services Group will post $7.10 earnings per share for the current fiscal year.

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.49%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 30.51%.

In other PNC Financial Services Group news, Director Daniel Hesse bought 500 shares of PNC Financial Services Group stock in a transaction dated Thursday, July 21st. The shares were purchased 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 $90,684. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hannon sold 33,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 87,573 shares in the company, valued at $7,574,188.77. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. RNC Capital Management LLC boosted its position in PNC Financial Services Group by 0.5% in the second quarter. RNC Capital Management LLC now owns 222,243 shares of the company’s stock valued at $18,088,000 after buying an additional 1,150 shares during the period. Huntington National Bank boosted its position in PNC Financial Services Group by 14.6% in the second quarter. Huntington National Bank now owns 275,683 shares of the company’s stock valued at $22,438,000 after buying an additional 35,206 shares during the period. AMP Capital Investors Ltd boosted its position in PNC Financial Services Group by 12.8% in the first quarter. AMP Capital Investors Ltd now owns 415,678 shares of the company’s stock valued at $35,477,000 after buying an additional 47,014 shares during the period. Suntrust Banks Inc. boosted its position in PNC Financial Services Group by 0.3% in the second quarter. Suntrust Banks Inc. now owns 471,355 shares of the company’s stock valued at $38,362,000 after buying an additional 1,600 shares during the period. Finally, Natixis acquired a new position in PNC Financial Services Group during the first quarter valued at about $46,162,000. 80.28% of the stock is currently owned by hedge funds and other 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.

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