Zacks Investment Research upgraded shares of PNC Financial Services Group Inc. (NYSE:PNC) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $99.00 price objective on the stock.

According to Zacks, “PNC Financial’s third-quarter 2016 earnings beat the Zacks Consensus Estimate. Results were aided by higher revenues, partially offset by increased expense and provisions. Notably, management projects net interest income and fee revenue to remain stable on a sequential basis in the fourth quarter. The company also remains focused on its cost saving initiatives. We remain optimistic as the bank remains well positioned for top-line growth, supported by consistent growth in loans and deposits and diverse fee income. However, amid the low rate environment, margin pressure lingers.”

PNC has been the topic of a number of other research reports. Barclays PLC restated a hold rating and issued a $97.00 price target on shares of PNC Financial Services Group in a research note on Tuesday, October 11th. Raymond James Financial Inc. upgraded PNC Financial Services Group from an underperform rating to a market perform rating in a research note on Thursday, October 6th. Vetr cut PNC Financial Services Group from a buy rating to a hold rating and set a $94.63 price target on the stock. in a research note on Thursday, October 6th. Nomura cut 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, Credit Agricole SA increased their price target on PNC Financial Services Group from $86.00 to $92.00 and gave the company an underperform rating in a research note on Friday, September 23rd. 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 company presently has an average rating of Hold and an average target price of $96.48.

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

Shares of PNC Financial Services Group (NYSE:PNC) traded up 1.50% during midday trading on Tuesday, hitting $91.21. 1,096,821 shares of the stock traded hands. The company has a market capitalization of $44.82 billion, a PE ratio of 12.58 and a beta of 0.91. The firm’s 50 day moving average price is $89.90 and its 200 day moving average price is $86.27. PNC Financial Services Group has a 12-month low of $77.40 and a 12-month high of $97.50.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, October 14th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.06. The firm had revenue of $3.83 billion for the quarter. PNC Financial Services Group had a return on equity of 8.92% and a net margin of 23.77%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. Analysts expect that PNC Financial Services Group will post $7.09 EPS for the current year.

The company also recently disclosed 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 is Thursday, October 13th. This represents a $2.20 dividend on an annualized basis and a yield of 2.45%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 30.51%.

In related news, insider Michael J. Hannon sold 33,000 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the transaction, the insider now 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 can be accessed through this link. Also, Director Daniel Hesse bought 500 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were bought at an average cost of $82.44 per share, for a total transaction of $41,220.00. Following the transaction, the director now owns 1,100 shares of the company’s stock, valued at $90,684. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PNC. National Pension Service boosted its position in shares of PNC Financial Services Group by 4.2% in the first quarter. National Pension Service now owns 285,927 shares of the company’s stock valued at $24,181,000 after buying an additional 11,517 shares during the last quarter. AMP Capital Investors Ltd boosted its position in shares of 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 last quarter. Renaissance Technologies LLC bought a new position in shares of PNC Financial Services Group during the first quarter valued at about $67,512,000. Citizens Financial Group Inc RI boosted its position in shares of PNC Financial Services Group by 3.5% in the first quarter. Citizens Financial Group Inc RI now owns 112,377 shares of the company’s stock valued at $9,504,000 after buying an additional 3,796 shares during the last quarter. Finally, HBK Investments L P bought a new position in shares of PNC Financial Services Group during the first quarter valued at about $3,244,000. 80.28% of the stock is currently owned by institutional investors.

PNC Financial Services Group Company Profile

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

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