The PNC Financial Services Group, Inc. (NYSE:PNC) reported its Q3 results, with adjusted EPS of $3.75 beating the Street estimate of $3.64 on record fee revenue driven by corporate services and residential mortgage.

The quarterly results, which include a full quarter of benefit from the BBVA USA branch acquisition, were viewed positively by the analysts at DA Davidson, who raised their price target on the company’s shares to $209 from $204.

According to the brokerage, the combined tailwinds from an improving economy and BBVA should drive average earnings higher than its peer set over the next two years.