PNC Financial Services Group Inc. (NYSE:PNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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 several other research reports. Bank of America Corp. set a $100.00 price target on PNC Financial Services Group and gave the stock a “buy” rating in a report on Wednesday, September 7th. FBR & Co reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research note on Monday, July 18th. Vetr raised PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $94.63 target price on the stock in a research note on Wednesday, October 12th. Argus raised PNC Financial Services Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.03 to $98.00 in a research note on Monday, October 17th. Finally, RBC Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of PNC Financial Services Group in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $97.40.

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

Shares of PNC Financial Services Group (NYSE:PNC) opened at 108.78 on Monday. PNC Financial Services Group has a 1-year low of $77.40 and a 1-year high of $108.83. The company’s 50-day moving average price is $92.94 and its 200 day moving average price is $87.69. The stock has a market cap of $52.92 billion, a PE ratio of 15.13 and a beta of 0.82.

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 consensus estimate of $1.78 by $0.06. The company earned $3.83 billion during the quarter. PNC Financial Services Group had a return on equity of 9.04% and a net margin of 23.77%. PNC Financial Services Group’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. Equities analysts forecast that PNC Financial Services Group will post $7.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 17th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, October 13th. PNC Financial Services Group’s payout ratio is currently 30.51%.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 16,400 shares of the company’s stock in a transaction on Friday, October 21st. The stock was sold at an average price of $92.93, for a total transaction of $1,524,052.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 82,500 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $95.31, for a total value of $7,863,075.00. Following the transaction, the chief executive officer now directly owns 476,255 shares in the company, valued at approximately $45,391,864.05. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in PNC Financial Services Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 31,475,705 shares of the company’s stock worth $2,561,807,000 after buying an additional 320,794 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in PNC Financial Services Group by 2.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 12,985,424 shares of the company’s stock worth $1,169,857,000 after buying an additional 269,614 shares during the period. JPMorgan Chase & Co. increased its position in PNC Financial Services Group by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 11,262,005 shares of the company’s stock worth $916,614,000 after buying an additional 833,923 shares during the period. Massachusetts Financial Services Co. MA increased its position in PNC Financial Services Group by 22.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,709,313 shares of the company’s stock worth $627,462,000 after buying an additional 1,395,872 shares during the period. Finally, American Century Companies Inc. increased its position in PNC Financial Services Group by 15.6% in the second quarter. American Century Companies Inc. now owns 6,655,625 shares of the company’s stock worth $541,701,000 after buying an additional 897,284 shares during the period. 80.88% 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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