The PNC Financial Services Group (NYSE:PNC) PT Raised to $194.00

The PNC Financial Services Group (NYSE:PNC) had its price target upped by Wells Fargo & Company from $185.00 to $194.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 20.66% from the stock’s previous close.

PNC has been the subject of a number of other research reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a report on Thursday. Piper Sandler lifted their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. UBS Group lifted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Stephens reaffirmed an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Finally, The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $152.87.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $0.81 during trading on Thursday, hitting $160.78. 229,246 shares of the stock traded hands, compared to its average volume of 2,211,865. The company has a market capitalization of $63.96 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. The firm has a 50-day simple moving average of $149.73 and a 200-day simple moving average of $138.10. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group has a 12-month low of $109.40 and a 12-month high of $161.18.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.49 EPS. As a group, analysts predict that The PNC Financial Services Group will post 12.4 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNC. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC boosted its position in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $28,000. Finally, Fortis Group Advisors LLC boosted its position in The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.