Why PNC Financial (PNC) Stock Is Moving Higher Today

NEW YORK (TheStreet) -- PNC Financial (PNC) is moving higher on Wednesday after beating earnings estimates in its first quarter. 

By early afternoon, shares had added 2.2% to $83.97.

Pittsburgh-based PNC Financial recorded net income of $1.82 for the three months to March. Analysts surveyed by Thomson Reuters had expected $1.66 a share in net income. 

Revenue of $3.78 billion came in short of consensus of $3.85 billion. 

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TheStreet Ratings team rates PNC FINANCIAL SVCS GROUP INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate PNC FINANCIAL SVCS GROUP INC (PNC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, expanding profit margins, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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