Call Of The Day: PNC Financial Services Group

PNC Financial Services Group Inc PNC was featured as the call of the day Friday on CNBC's "Fast Money Halftime Report."

What Happened: Wolfe Research analyst Bill Carcache double upgraded PNC from Underperform to Outperform and raised the price target from $194 to $252. The analyst cited the company's new revenue opportunities following its acquisition of BBVA as a reason for the street-high price target. 

Farr, Miller & Washington's Michael Farr told CNBC he has owned the stock for a long time and expects it to continue to perform well. The stock offers a great opportunity for investors, as it trades at 17 times earnings, 1.6 times book value and pays a 2.6% dividend, he said. 

Farr expects the company to continue to buy back its stock and increase its dividend, as it has a "terrifically solid balance sheet," Farr noted. He told CNBC that he plans to hold the stock for another five to 10 years and that it's a core position in his portfolio. 

PNC recently raised its quarterly dividend from $1.15 per share to $1.25 per share and announced plans to reinstate its $2.9 billion share buyback.

PNC Price Action: PNC has traded as high as $203.87 and as low as $97.09 over a 52-week period.

At last check Friday, the stock was up 0.60% at $192.89.

Photo by Tony Webster from Flickr.