The PNC Financial Services Group (NYSE:PNC) Price Target Raised to $221.00

The PNC Financial Services Group (NYSE:PNC) had its target price increased by investment analysts at Morgan Stanley from $211.00 to $221.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 0.95% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday. Citigroup upped their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Oppenheimer boosted their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, UBS Group lifted their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.22.

The PNC Financial Services Group Stock Down 0.0%

PNC stock traded down $0.05 during trading on Tuesday, reaching $223.13. The stock had a trading volume of 1,513,689 shares, compared to its average volume of 2,679,110. The PNC Financial Services Group has a one year low of $145.12 and a one year high of $227.00. The company’s 50 day moving average is $203.44 and its two-hundred day moving average is $197.50. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $87.50 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.95 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period last year, the business posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group will post 15.37 EPS for the current year.

Insider Activity

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the firm’s 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 sale, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the 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 completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is owned by insiders.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently added to or reduced their stakes in PNC. West Branch Capital LLC grew its holdings in shares of The PNC Financial Services Group by 20.0% in the fourth quarter. West Branch Capital LLC now owns 510 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 85 shares during the last quarter. IVC Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 47.9% in the 4th quarter. IVC Wealth Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $444,000 after buying an additional 688 shares during the last quarter. Dorato Capital Management purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $549,000. Earned Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 10.0% in the fourth quarter. Earned Wealth Advisors LLC now owns 3,704 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 337 shares during the period. Finally, Abacus Planning Group Inc. purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $219,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.