Zacks Investment Research upgraded shares of PNC Financial Services Group Inc. (NYSE:PNC) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $124.00 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 fee income. However, margin pressure is expected to continue in absence of notable rise in interest rate. Also, rising costs stemming from legal hassles and strict regulatory requirements remain near-term headwinds to the company’s profitability and flexibility in business operations.”

Other equities analysts have also issued reports about the stock. Vetr lowered shares of PNC Financial Services Group from a sell rating to a strong sell rating and set a $95.30 price objective on the stock. in a report on Tuesday, November 15th. RBC Capital Markets reiterated a buy rating and issued a $95.00 target price on shares of PNC Financial Services Group in a report on Thursday, November 3rd. Barclays PLC reiterated a hold rating and issued a $97.00 target price on shares of PNC Financial Services Group in a report on Tuesday, October 11th. Raymond James Financial Inc. upgraded shares of PNC Financial Services Group from an underperform rating to a market perform rating in a report on Thursday, October 6th. Finally, Nomura lowered shares of PNC Financial Services Group from a buy rating to a neutral rating in a report on Monday, October 10th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. PNC Financial Services Group presently has an average rating of Hold and an average price target of $97.33.

PNC Financial Services Group (NYSE:PNC) traded up 0.050% during trading on Tuesday, hitting $110.815. 1,046,849 shares of the stock traded hands. PNC Financial Services Group has a one year low of $77.40 and a one year high of $111.97. The company has a market capitalization of $53.91 billion, a P/E ratio of 15.408 and a beta of 0.82. The company’s 50 day moving average is $96.95 and its 200 day moving average is $88.83.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.06. PNC Financial Services Group had a net margin of 23.77% and a return on equity of 9.04%. The company had revenue of $3.83 billion for the quarter. During the same quarter in the previous year, the company posted $1.90 earnings per share. PNC Financial Services Group’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that PNC Financial Services Group will post $7.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Monday, October 17th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, October 13th. This represents a $2.20 annualized dividend and a yield of 1.99%. PNC Financial Services Group’s payout ratio is currently 30.51%.

In related news, CEO William S. Demchak sold 179,809 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the completion of the transaction, the chief executive officer now owns 531,755 shares in the company, valued at $57,222,155.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William S. Demchak sold 82,500 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $95.31, for a total transaction of $7,863,075.00. Following the transaction, the chief executive officer now owns 476,255 shares of the company’s stock, valued at approximately $45,391,864.05. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PNC. Springbok Capital Management LLC acquired a new stake in PNC Financial Services Group during the first quarter valued at approximately $267,000. Schonfeld Strategic Advisors LLC acquired a new stake in PNC Financial Services Group during the first quarter valued at approximately $270,000. Eachwin Capital LP acquired a new stake in PNC Financial Services Group during the first quarter valued at approximately $423,000. Babson Capital Management LLC increased its stake in PNC Financial Services Group by 12.4% in the first quarter. Babson Capital Management LLC now owns 45,199 shares of the company’s stock valued at $3,822,000 after buying an additional 5,000 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in PNC Financial Services Group during the first quarter valued at approximately $4,213,000. Institutional investors own 80.37% of the company’s stock.

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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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