The PNC Financial Services Group (NYSE:PNC) Upgraded to Hold at HSBC

The PNC Financial Services Group (NYSE:PNC) was upgraded by investment analysts at HSBC from a “reduce” rating to a “hold” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $155.00 price objective on the financial services provider’s stock, up from their previous price objective of $141.00. HSBC’s price target would suggest a potential downside of 3.11% from the stock’s previous close.

PNC has been the subject of several other research reports. Morgan Stanley increased their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Piper Sandler increased their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Stephens reiterated an “equal weight” rating and issued a $138.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. UBS Group increased their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.59.

The PNC Financial Services Group Price Performance

PNC opened at $159.97 on Thursday. The stock’s 50 day simple moving average is $149.73 and its 200 day simple moving average is $138.10. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The PNC Financial Services Group has a 1 year low of $109.40 and a 1 year high of $160.10. The firm has a market cap of $63.64 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.79 and a beta of 1.17.

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

Insiders Place Their Bets

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

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of PNC. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. 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.