Robert W. Baird reiterated their buy rating on shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) in a report issued on Monday morning. They currently have a $135.00 price objective on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating and set a $140.00 price objective on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada restated a buy rating and issued a $130.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 15th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a report on Wednesday, June 14th. BMO Capital Markets restated a buy rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a hold rating to a buy rating in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $123.11.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 125.41 on Monday. The firm has a market cap of $60.10 billion, a P/E ratio of 15.96 and a beta of 0.93. PNC Financial Services Group, Inc. has a 1-year low of $85.80 and a 1-year high of $133.26. The firm’s 50-day moving average price is $128.30 and its 200-day moving average price is $123.94.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations 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%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.39%. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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

Several hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $539,000. Korea Investment CORP increased its stake in shares of PNC Financial Services Group, Inc. (The) by 48.6% in the first quarter. Korea Investment CORP now owns 439,385 shares of the financial services provider’s stock valued at $52,832,000 after buying an additional 143,605 shares during the last quarter. HPM Partners LLC purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $362,000. BTIM Corp. increased its stake in shares of PNC Financial Services Group, Inc. (The) by 2.4% in the first quarter. BTIM Corp. now owns 594,845 shares of the financial services provider’s stock valued at $71,525,000 after buying an additional 13,985 shares during the last quarter. Finally, Usca Ria LLC purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $376,000. Hedge funds and other institutional investors own 81.16% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

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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