The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $229.00

The PNC Financial Services Group (NYSE:PNC) had its price objective raised by equities researchers at Truist Financial from $210.00 to $229.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 8.48% from the stock’s previous close.

Other analysts have also issued reports about the company. UBS Group raised their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Raymond James Financial boosted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $219.11.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $0.80 during trading on Thursday, reaching $211.10. 444,415 shares of the company traded hands, compared to its average volume of 2,169,565. The PNC Financial Services Group has a 1-year low of $145.12 and a 1-year high of $213.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day moving average price is $189.34 and its two-hundred day moving average price is $191.95. The company has a market cap of $82.78 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.18 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the business earned $3.49 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of The PNC Financial Services Group by 3.3% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,798 shares of the financial services provider’s stock worth $7,346,000 after acquiring an additional 1,349 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of The PNC Financial Services Group by 107.7% during the first quarter. EntryPoint Capital LLC now owns 2,511 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 1,302 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in The PNC Financial Services Group by 37.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 120,798 shares of the financial services provider’s stock valued at $21,233,000 after acquiring an additional 33,107 shares in the last quarter. Finally, PGIM Custom Harvest LLC lifted its position in The PNC Financial Services Group by 68.9% in the 1st quarter. PGIM Custom Harvest LLC now owns 1,990 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 812 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

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.