Piper Jaffray Companies reaffirmed their buy rating on shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in a report published on Sunday morning. They currently have a $134.00 price objective on the financial services provider’s stock.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a report on Monday, June 19th. BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) from a buy rating to a hold rating in a report on Saturday, June 24th. Credit Suisse Group reaffirmed a neutral rating and set a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Morgan Stanley reaffirmed an equal weight rating and set a $127.00 target price (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $130.00 target price (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $123.11.

PNC Financial Services Group, Inc. (PNC) opened at 125.79 on Friday. The company has a 50 day moving average price of $128.40 and a 200 day moving average price of $123.82. PNC Financial Services Group, Inc. has a 1-year low of $85.80 and a 1-year high of $133.26. The firm has a market cap of $60.28 billion, a PE ratio of 16.01 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. PNC Financial Services Group, Inc. (The)’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

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PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Thursday, July 13th. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after buying an additional 4 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Ropes Wealth Advisors LLC now owns 1,849 shares of the financial services provider’s stock worth $222,000 after buying an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after buying an additional 8 shares in the last quarter. Hudock Capital Group LLC boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after buying an additional 11 shares in the last quarter. Finally, Pinnacle Advisory Group Inc. boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Pinnacle Advisory Group Inc. now owns 2,773 shares of the financial services provider’s stock worth $333,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 81.16% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Analyst Recommendations for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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